Episode Summary

Today On Crypto Breakdown:

Watch these coins over the weekend:

• Polygon (MATIC)
• Ethereum Name Service (ENS)
• Binance Coin (BNB)

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Unedited Transcript:

Hey everybody, happy Friday. My name is Joe Dewitt, and this is crypto breakdown. Jumping straight into it, taking a look over at Bitcoin Bitcoin price fell below.

That support level of about 65,000 price is struggling to gain that buying momentum. If volume, nos, continue to come and read, we are going to see price fall down to that. 8,000 level support. If Bitcoin price can gain a little bit of buying a momentum, we could see price flip this resistance slash support level at that 65.

And getting on top of that level will put us up for a price target of about 85,000. As long as Bitcoin continues to trade over the 50 day and 200 day moving average, everything can still be considered a bullous trend. If price action falls below that 50 day moving average heading to the 200 day.

Investors can be scared of a bear trend. Taking a look over at a theorem. Ethereum continues to look absolutely amazing. We are sitting at 4,580 prices down 2% today, so far, and we are currently heading down to that support level of 4,370, which was a previous all time high resistance that we flipped support.

Historically guys, that this type of support is very, very strong for price action. So if price can fall down to here and. And quickly get bought up with some momentum. That would be a very bullish sign for Ethereum. If price struggles over that support level price will continue to fall down to that 4,000 level heading towards that 50 day moving average.

And the third point I'm going to look at today is going to be chain link because chain link is looking absolutely amazing. Channeling also hit a two month high with the numbers of holders increasing by 265%, which is absolutely amazing. I've had my eyes on chain line for quite some time. Now, decentralized Oracle now.

And is a very, very promising project prices at $33 currently down 6% because price was rallying over the last few days. So it is very common to see a slight correction there. Price is actually holding this 33 level support beautifully. If he continues to hold that and we get some green volume nodes coming in, we should be up to our next price target of $43 if probably struggles over the support.

And we fall through, we will be heading down to that 50 day, putting us at about 29. And today, guys, I'm going to talk about a few coins to look out for this weekend as they have been trending and looking very, very well. The first point I'm going to talk about as MATIC now, I'm sure a lot of people are familiar with MATIC is an Ethereum side chain that helps scale the Ethereum network.

It has been very awesome in the past scaling Ethereum prices sitting at $1 and 70 cents. Currently getting very close to visiting all time highs. So make sure to keep an eye out for that. As breaking all time, highs can lead to significant breakouts there. The second point I'm going to take the second point.

I'm going to recommend keeping an eye out this weekend would be ENS, Ethereum naming service. Now they actually just released this coin a few days ago. And the market cap is the market cap is sitting at 800 million, which is incredibly low. And ENS is the governance token for the Ethereum naming services, which is their domain names.

So there is going to be a long, long history of use with this ENS token. And it is only just begun. So make sure to keep an eye out for that as it is in the early stages of release. So now might be the best time to take a look at the third coin. I'm going to take a look at it again. Binance coin BNB finance has been looking great is established some higher lows here.

We got momentum coming in. We have buying power and we are revisiting all time highs, which looks like price action is displaying that it wants to break above that all time high. As I mentioned before, it is not uncommon to see a slight correction like this after a run. So ideally price will correct about five, 10% down to that five 40 level of support and then bounce off of there.

Hopefully breaking all the time. Just make sure to take a look, keep an eye out this weekend. Because like I said, with MATIC breaking all time, highs can lead to a very, very nice breakout there. So getting in on that would be ideal and that's all the time we have for today. Guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcast and you can follow me on Twitter, which will all be in the description below.

Have a great weekend

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