The overall crypto market cap had hit a high of $1.36 trillion and Bitcoin [BTC], Binance Coin [BNB], Polkadot [DOT], Cardano [ADA] along with an array of currencies were seen aiding this journey. Thanks to Elon Musk, the price of Bitcoin almost hit a high of $48K. While the king coin is retraced to $46,534, at press time, all the other assets were seen on an uptrend. Ethereum [ETH], however, was seen failing at its attempts to hit $2K. ADA as well as DOT had flipped XRP in terms of market cap. For the first time in a long time, XRP was seen at the sixth position with a market cap of $20.89 billion.
Binance Coin [BNB] had climbed up the crypto ladder and found a spot as the seventh largest cryptocurrency. The market cap of the altcoin was at $14.55 billion. BNB was trading for a high of $94.77, during press time. Binance’s native asset had surged up to a high of $96.44. While the crypto community laid out speculations of the asset hitting $100, the BNB market seemed to be following the same trail.
Binance Coin [BNB] One-Hour Price Chart
The short-term price chart of BNB had bulls grazing in its market. The volume in the market was quite high. The Parabolic SAR indicator had formed dotted lines below the candlesticks which demented the chances of the altcoin enduring any immediate crashes. The MACD indicator prolonged the bullish crossover it had undergone yesterday. The disparity between the MACD line and signal line limited the chances of a bearish crossover. The Money Flow Index [MFI] indicator revealed that the asset was in the overbought zone.
Binance Coin [BNB] One-Day Price Chart
The one-day price chart of BNB suggested that the asset was in for a major change in its price. The Bollinger Bands indicator was wide apart which indicated a potential surge in the volatility. The Chaikin Money Flow indicator was above zero which pointed out a bullish momentum in the BNB market. A buyers’ sentiment was intact, the Relative Strength Index [RSI] affirmed.