In the context of escalating geopolitical tensions between Israel and Iran, traditional and crypto markets are experiencing significant volatility. Over $1.1 billion has been liquidated, leading Bitcoin prices to test around $102.6K. Let's examine the current state and forecasts for BinanceCoin and Uniswap, two key cryptocurrencies.
Current Situation in the Crypto Market
Amid conflicts in the Middle East, the cryptocurrency market is facing pressure. Following sharp price fluctuations in Bitcoin, many altcoins are also showing negative dynamics, although BinanceCoin and Uniswap are beginning to show signs of recovery. Crypto investors are paying attention to technical indicators that may signal further trends.
Price Forecast for BinanceCoin (BNB)
BinanceCoin maintains its position in the top 5 cryptocurrencies despite current market conditions. Prices for BNB have stabilized between $655-$660 after breaking through resistance. Current trading is occurring within a symmetrical triangle, which may lead to a potential breakout if prices move above this level. Further upward movement may direct prices towards the $700-$720 zone.
Recovery Prospects for Uniswap (UNI)
After bears controlled the market, the Uniswap price reacted to testing local lows around $7 and saw a bounce, relieving some selling pressure. The current price is on a path to recovery, with increasing trading volume suggesting a strengthening bullish trend. There is hope that the UNI price could reach $20 as a result of this recovery.
The current state of the cryptocurrency market remains under pressure; however, recent technical signs indicate potential recovery for BinanceCoin and Uniswap. Investors await further developments.
