All the crypto assets were seen trying to recover all the gains they had lost at the beginning of this month. Both, Binance coin’s [BNB] price and market cap had receded over the last couple of days. BNB, similar to other coins was on its way to redemption.
Binance coin, during the time of writing, was trading for a high of $281.63 with a dainty change of 0.50%. Earlier this week, the altcoin endured and rose up to $296.66, however, this was staggered by the bears in its market. Over the last seven days, BNB scored gains of up to 16.62%. While ADA had heralded BNB with regard to market cap, the latter was quick enough to garner its spot back as the third-largest cryptocurrency.
Binance Coin [BNB] One-Hour Price Chart
BNB’s multiple efforts to move past $300 have been exhausted. A strong line of resistance at $290.5 could be negating the chances of the altcoin resurging to its previous all-time high. Two lines of support were also noted in the short-term price chart of BNB at $269.4 as well as $229.3.
The Chaikin Money Flow indicator navigated its way back over zero affirming the presence of bulls in the market. The Awesome Oscillator played along as it laid out green closing bars. A sellers’ sentiment was, however, notified by the Money Flow Index indicator.
Binance Coin [BNB] One-Day Price Chart
The bears were still in its market announced the indicators used in the one-day price chart of BNB. The Parabolic SAR indicator went on to put forth dotted lines over the candlesticks, this further diminished the likelihood of an upward breakout. The MACD line and the signal line were quite close to each other, yet they had undergone a bearish crossover. The Relative Strength Index indicator was existing in the buyers’ arena.
While the short-term chart called for a ticket to $300, the long-term price chart of the altcoin was exhibiting difficulty in moving to its all-time high.