The crypto market was muddled as the crypto coins were seen settling in different zones. Certain assets like Binance Coin [BNB], Polkadot [DOT], and Bitcoin Cash [BCH] were seen witnessing dainty changes in their prices. However, Stellar [XLM], XRP, and a few others were recording a surge. Just yesterday, Bitcoin fell down to $17K and broke several hearts. While the community expected the coin to go beyond $20K, the king coin staggered at within that. At the time of writing, Bitcoin was trading for $18,240.62 with a 0.16% drop in the last 24-hours.
At the time of writing, Binance Coin [BNB] was trading for $27.69 with a 0.74% slump in the last 24-hours. The coin had managed to secure gains up to 9.68% over the last week. The coin’s market cap was taken over by several other coins and was seen at the tenth position with a market cap of $3.999 billion.
Binance Coin [BNB] One Hour Chart
Binance’s native cryptocurrency BNB was seen pushing past the week, however, indicators used in the one hour price chart of BNB suggest that the coin was in for a downhill journey. The daily moving average indicators signaled strong signs of bears in the BNB market. The 50 daily moving average [Blue] was above the 100 daily moving average [Orange], this crossover is normally bullish. However, both the 50 and the 100 daily moving averages were seen above the candlesticks which in turn is bearish.
Binance Coin [BNB] With Key Indicators
The bears had taken over the BNB market as all the key indicators were seen hibernating with the bears. The Parabolic SAR indicator had laid down dotted lines above the candlesticks which blocked the chances of an upward breakout. This further pointed out that the BNB market was gearing up for a downward breakout.
The Awesome Oscillator indicator had formulated red closing bars indicating the presence of bears. The Stochastic RSI indicator was drowning in the oversold zone. With all the indicators suggesting that the bears were taking over the BNB market, the asset could slump below a prominent support line at $26.87.