Binance coin [BNB] was one coin that remained untethered by the bears in the market for a long time. Unfortunately, the asset had to succumb to the bears. While all the assets were trying to recover from the latest carnage, BNB was seen taking it slow. The altcoin was trading for $249.45, during the time of writing, with a dainty change in its price over the last 24-hours. In terms of market cap, BNB did see impeccable growth. However, Cardano [ADA] took over the altcoin as the third largest coin. At press time, BNB was standing as the fourth largest cryptocurrency with a market cap of $38.67 billion.
Meanwhile, all the other assets were seen trying to get rid of the bears from their respective markets. Bitcoin had finally moved past $50K and was trading at $52,000.86 with a 6.47% surge in the last 24-hours. Almost all the altcoins were seen mirroring a similar trend.
Binance Coin [BNB] One-Hour Price Chart
Things looked positive for BNB on its short-term price chart. The altcoin was seen harboring the bulls after a long stay of the bears. The Parabolic SAR indicator formed a bullish pattern below the candlesticks hindering any sudden breakouts in the downward direction. The MACD indicator went in for a bullish crossover, earlier today and retained it. The Relative Strength Index indicator was seen in the buyers’ zone.
Binance Coin [BNB] One-Day Price Chart
Amidst a bearish market, BNB managed to score an all-time high of $342. But, the asset endured a major pullback back into $200. The Bollinger Bands indicator used in the one-day price chart of Binance coin was seen wide apart further implying the possibility of an increase in volatility. But the bands were seen prepping for a convergence which could mean that this volatility could be limited.
The Awesome Oscillator formed an array of red closing bars which suggested that the bears had taken over the BNB market. The Money Flow Index, however, pointed out that a buyers’ sentiment was intact in the market.