The entire crypto market was seen taking a vacation with the bulls, Binance coin [BNB], Ethereum [ETH], and several other coins were noted bagging dainty gains. However, XRP was seen taking a long ride with the bulls with an 11% surge in the last 24-hours. The global crypto market cap was on the rise as it was recorded at $1.70 trillion. Bitcoin [BTC] was retracing after hitting an all-time high of $61,683. While Bitcoin dominated the scene by 60.8%, Ethereum was overlooking the market by 12.1%.
At the time of writing, the Binance coin [BNB] was trading for $255.82. The asset gathered onlookers as the altcoin surged to a high of $342.88. However, it failed to retain its stay over $300. The altcoin had even climbed up the crypto ladder. BNB was seen standing as the third-largest cryptocurrency with a market cap of $39.22 billion.
Binance Coin [BNB] One-Hour Price Chart
The short-term price chart of BNB was seen dancing with the bulls. The Parabolic SAR indicator had laid out dotted lines below the candlesticks further negating the possibility of a downward breakout. This could protect the coin from slumping down below $200. The Chaikin Money Flow indicator suggested a bullish momentum as the CMF marker was over zero.
The Money Flow Index was over 50 median which pointed out a buyers’ market.
Binance Coin [BNB] One-Day Price Chart
The one-day price chart of the altcoin was down by the bearish arena. The Bollinger Bands indicator was close to each other which indicated limited volatility. The MACD line remained over the signal line which is considered a bearish crossover. This further affirmed that the limited volatility could be profitable for the coin weighing the bears in the market. The Relative Strength Index indicator was seen in the buyers’ zone despite, the bears in the market.
Furthermore, this could diminish the chances of BNB surging over $300 anytime soon.