BNB joined the rest of the altcoin market in a price flux as the bull and the bear butted heads. Binance’s native asset was in the bull’s good books as it enjoyed double-digit gains over the week. Binance Coin maintained its position as the only cryptocurrency to have green tickers across the hourly, daily, and weekly time spectrums.
At press time, BNB was trading for $424.6 with a market cap of $65.6 billion. A 6 percent daily hike elevated BNB’s trading volume to $1.8 billion, which included stats from the largest cryptocurrency exchanges. BNB still had ways to go before it could surpass its nearest competitor, ADA.
BNB 1 hr:
Binance Coin’s latest rally allowed the indicators to fall in the bull’s court. The support held near the $375 mark, a bounce point for the cryptocurrency’s price.
BNB’s Bollinger bands diverged from one another with users hoping for a significant cloud formation. The RSI grazed the overbought zone indicating a massive increase in the number of people HODLing Binance Coin.
Binance Coin’s CMF pushed for a bullish atmosphere as the graph spiked above the zero line. A steeper CMF graph pointed to increased capital in the BNB y.
BNB 1 day:
In the long term, Binance Coin was picking up steam just like its counterparts. With the long-term support untouched since April, BNB had a safe run-up.
In the daily charts too, BNB’s technical indicators were on the bull’s team. Although the Bollinger cloud was smaller than the hourly spectrum, it signified positive momentum. Both the long-term CMF and RSI ascended vertically with the increase in funds and users.