Except for Dogecoin [DOGE], every crypto in the market was on an upward trajectory. Binance Coin [BNB], however, was leading this movement. Bitcoin [BTC] was finally getting back on track as it recorded some green in the red zone. At press time, BTC was trading at $55K with a 1.72% rise in the last 24-hours. This seemed to have caused the rise in the altcoin takeover. ETH’s dominance grew to 13% while BTC slumped to 50%.
Binance Coin, during the time of writing, was trading for $593.99 with a whopping 19.07% increase in the last 24-hours. Just a couple of days ago, BNB rose over $600 and recorded an all-time high of $637.44. Additionally, the altcoin climbed up the crypto ladder and took over the third spot. The market cap of the asset was noted at $90.34 billion which further pushed the total market cap to $2.04 trillion.
Binance Coin [BNB] One-Hour Price Chart
The short-term price chart of BNB was noted harboring the bears. The Awesome Oscillator indicator rolled out red closing bars which further suggested a bearish momentum. The signal line was once again trailing back over the MACD line. This, in turn, formed a bearish crossover. While both the key indicator used in the one-hour price chart of CZ’s coin was noting the presence of bears, the altcoin’s chances of moving past $600 could be hindered.
Additionally, the Relative Strength Index indicator was noted in the buyers’ zone, despite the ongoing bear market.
Binance Coin [BNB] One-Day Price Chart
The one-day price chart of BNB was riding the bull. The Parabolic SAR indicator was reversing the bearish trend that had struck the BNB market. The indicator started forming dotted lines below the candlesticks further limiting the chances of a downtrend. The Chaikin Money Flow indicator was exerting a bullish momentum as it was over the zero median.
A buyers’ sentiment was noted in the BNB market as the Money Flow Index indicator was in the buyers’ zone.