The crypto market was filled with mixed emotions. Binance Coin [BNB], Cardano [ADA], Dogecoin [DOGE], and few others were seen residing in the bearish arena while Bitcoin [BTC] and Solana [SOL] still had the bulls in their markets.
Bitcoin [BTC] has been on a roll. From a low of $42K, the king coin flew to a high of $54K in no time. The persistence of the ongoing trend could undoubtedly push the coin on to $60K. The entire market was seen rejoicing BTC’s plunge towards $1 trillion, in terms of market cap. Solana [SOL] noted a major uptrend after its recent downfall. The altcoin was seen on a downward trajectory while the entire market was enjoying a bullish notion.
Binance Coin [BNB] was seen noting a major loss as the bears were all over its market. BNB, during the time of writing, was trading for $421.28 with a 4% drop over the last 24-hours. The altcoin was one of the first assets to welcome the bear into its market.
The market cap of the altcoin has been noting major fluctuations in its market cap. The altcoin’s market cap was noted at $70.8 billion. BNB’s ranking was rising and falling over the third and the fourth spot.
Binance Coin [BNB] one-hour price chart
The one-hour price chart of Binance Coin noted major bearish signs. The Parabolic SAR indicator took a significant turn from residing below the candlesticks all the way over the candlesticks. This transformation wasn’t for the best as the line acted as resistance and blocked any form of an uptrend. The Chaikin Money Flow [CMF] indicator also followed a similar suit. The CMF marker slipped below the zero median onto the bearish side of the chart.
The Relative Strength Index [RSI] indicator noted a sellers’ notion as the RSI marker resided below the 50 median. The RSI marker was so close to the oversold zone further indicating the high selling activity in the market.