NEO, BNB and UNI are all pessimistic about the weekend

NEO, Binance Coin (BNB) and Uniswap (UNI) are all going bearishly into the weekend and could take further losses in the coming hours

The cryptocurrency market looks set to continue its descent into the red over the weekend. All cryptocurrencies in the top 20 have fallen by over 10% in the past 24 hours as we are seeing perhaps the strongest correction in months. Binance Coin (BNB) is down 14% in the past 24 hours and risks falling below $ 450 over the weekend. NEO lost nearly 20% of its value in the recent correction and could take another drop to $ 70 if the market doesn’t rebound. Uniswap is still in the top ten after losing 15% of its value and needs to defend the USD 29 support area to avoid further losses.

BNB price outlook

#bnb isn’t bad.

A daily close of say 583 dollars would not be a downtrend.

Still above the daily 21 MA at $ 473.

The price action was wild. $ bnb has on its side the value and return that you get as a BNB user. People want and use this crypto.

– Crypto ₿ethany 💕🔶 (@CryptoBethany) April 23, 2021

A look at the BNB / USDT 4-hour chart shows that Binance Coin is still in bearish mode despite rising 5% in the last hour. The bulls were able to defend the $ 452 support, allowing the BNB to rebound towards $ 490. It is still trading within its 100 day simple moving average region ($ 490). If he builds on recently found momentum, he could attempt to climb above $ 511 this weekend.

BNB / USDT 4-hour chart. Source: Coinalyze

However, the RSI and MACD show that the bears are still in control and could trigger another correction. If the correction continues, the BNB could lose the support at $ 452, bringing the focus to the support at $ 430.

NEO price outlook

NEO is in a similar situation to BNB. The NEO / USD pair is up 2% in the past hour and down 16% in the past 24 hours, with the 4-hour chart still looking bearish for now. The cryptocurrency has defended the USD 72 support and is slowly marching towards the USD 84 resistance point.

NEO / USD 4 hour chart. Source: Coinalyze

If the bulls recover, NEO could try to run at $ 90 this weekend and move towards $ 100 this weekend. However, the technical indicators are currently bearish, pointing to further losses this weekend. Failure to defend the USD 72 support could result in the NEO / USD pair rising towards the 200-day SMA (USD 63.02).

UNI price outlook

Uniswap (UNI) reflects the performance of the broader market after losing 13% of its value the previous day. The UNI / USD pair looks incredibly bearish right now. If the current trend continues, UNI will be forced to defend the USD 28 support point. Further losses could cause UNI to drop below $ 25, a price that has not been seen in weeks.

UNI / USD 4 hour chart. Source: Coinalyze

The bearish cycle could continue as its MACD level is in the red. The RSI is below 50, indicating a negative cycle.

However, UNI could bounce back if it gets help from the wider market. In a rally, UNI will cross the $ 32 mark and attempt to break the $ 35 resistance. An extended market rally could help the cryptocurrency hit its weekly high of $ 39.44.

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