The crypto market has been enduring multiple fluctuations in terms of both prices as well as market cap. Binance Coin [BNB] has been confused about its position as the asset has been spiraling downwards in terms of market cap. The altcoin made way for new coins like Polkadot [DOT] as well as Chainlink [LINK] as they preceded in the market cap game. The overall market cap had seen plummeting from $1.05 trillion. At press time, the global crypto market cap was at $993.78 billion, with Bitcoin constituting $654 billion of the market cap.
Binance Coin [BNB], slumped down to the eleventh position as its market cap was noted at $6.49 billion. BNB was trading for $46.30 with a 6.86% surge over the last 24-hours. The native currency of the cryptocurrency exchange, Binance hit an all-time high of $46.80, earlier today.
Binance Coin [BNB] One Day Price Chart
The one day price chart of BNB revealed a bullish sentiment. The volume in the BNB market on Binance was moderate. The Parabolic SAR indicator formed dotted lines below the candlesticks posing as a barricade. This further restricted the chances of a downward breakout. This bullish sentiment was further affirmed by the Money Flow Index which was seen getting back from the over bought zone. In the chart the MFI marker was above the 60 median.
Binance Coin [BNB] Price Chart With Key Indicators
Just a few hours ago, BNB hit an all-time high, it seemed like the asset was prepping for a new high. The MACD indicator recently got out of the bearish crossover. The MACD line was seen slowly taking over the signal line opening the gates for the bulls to enter. The Klinger Oscillator indicator was seen following suit as it went ahead and formed a bullish crossover.
This bullish sentiment in the BNB market could induce the possibility of a new ATH for the altcoin.