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You are here: Home / News / Binance Coin [BNB] Hits New All-Time High As It Continues To Be Overbought
Binance Coin

Binance Coin [BNB] Hits New All-Time High As It Continues To Be Overbought

February 5, 2021 by Sahana Kiran

The market cap of the crypto industry was seen soaring to a high of $1.13 trillion. Binance Coin [BNB], Bitcoin [BTC], Polkadot [DOT], and several other coins were seen fueling this trillion-dollar journey. Polkadot had once again flipped XRP in terms of market cap as the former moved to a high of $18.33 billion. Almost all the coins were seen moving upwards and Bitcoin was seen at a high of $37,601, at press time. Ethereum [ETH] and Polkadot had moved past their previous all-time highs. ETH was noted at a high of $1,623 while DOT was at $20.17. Dogecoin [DOGE] was once again surging after Elon Musk’s latest tweet.

Binance Coin was seen following a similar trend as ETH and DOT. At the time of writing, BNB was retracing at $53.92 after hitting an all-time high of $54.09. Over the last 24-hours, BNB had bagged gains of over 5.77%. The altcoin had also climbed the crypto ladder with regard to its market cap. BNB was seen standing as the ninth-largest coin with a market cap of $8.34 billion.

Binance Coin [BNB] Four Hour Price Chart On Binance

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The four-hour price chart of BNB was sending mixed signals. The Parabolic SAR indicator revealed that the bulls were reigning the market. The indicator put forward dotted lines below the candlesticks which further acted as a barricade for the altcoin plummeting. The MACD indicator was seen finding it hard to make up its mind. The MACD line was seen slightly above the signal line which was a bullish crossover. The Klinger Oscillator had however formed a bearish crossover.

Binance Coin Four Hour Chart Reveals Buyers’ Sentiment

Binance Coin

The Relative Strength Index [RSI] indicator used in the BNB chart revealed that the altcoin was being overbought. The RSI marker was all the way above 70 median. The prolongation of this trend could help the coin hit $60 anytime soon.

Filed Under: News, Altcoin News Tagged With: Binance Coin (BNB)

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