The bulls were back in the crypto market. While an array of coins made sure to bag gains, Binance Coin [BNB] stayed rather still as it recorded no major price change over the last couple of hours. Meanwhile, coins like Ethereum [ETH], Bitcoin [BTC], XRP, Bitcoin Cash [BCH], and a few others managed to score maximum profits.
Bitcoin [BTC] had once again preceded over the $40K mark. The king coin hit this number for the second time this week. With bulls raging in its market, the chances of it moving beyond this level were high.
Circling back to Binance Coin [BNB], the asset witnessed minimal to no change in its price. While the entire market was painted green, BNB was one among a few other assets that were still living in the red zone. At the time of writing, BNB was trading for $312 with a 1.12% drop over the last 24-hours.
Despite its price situation, the altcoin managed to stay in the top five with its market cap settled at $53 billion.
Binance Coin [BNB] one-hour price chart
Even though BNB was seen swimming in the red sea, the short-term prediction of the altcoin seemed pretty great. All the indicators used in the short-term price chart of BNB were slanted towards the bull.
The Awesome Oscillator indicator noted the arrival of the bull as it formed green closing bars. The Chaikin Money Flow indicator followed suit as it remained over the zero median in the bullish field.
The Relative Strength Index [RSI] indicator was above the 50 median which is considered a buyers’ market. However, the RSI marker was pointed towards the sellers’ arena.
Additionally, not long ago, Binance carried out its 16th quarterly token burn. A total of 1,296,728 BNB was burned during the process. At the time, the total BNB burned was worth $393,673,653.