The crypto-verse is home to both bulls and bears. But today it was primarily the bulls’ region. Binance Coin [BNB], Cardano [ADA], and Solana [SOL] were seen dwelling with the bull. However, assets like XRP, Bitcoin [BTC], Dogecoin [DOGE], Uniswap [UNI] were noted dancing with the bear.
The global crypto market had hit a high of $2.16 trillion and Bitcoin was the reason behind most of this. At press time, BTC’s market cap was at a high of $935 trillion. The king coin could soon hit $1 trillion. However, the price of the asset was at $49K and noticed a 1.26% drop over the last 24-hours.
At the time of writing, Binance Coin [BNB] was trading for $495 with a dainty drop of 0.37% over the last 24-hours. The altcoin witnessed significant growth over the last couple of days. While BNB remains close to hitting $500, the bulls could aid in this transition.
Additionally, BNB was pushed down by Cardano [ADA] on the crypto ladder. ADA has bagged massive gains over the month and its market cap followed suit. The altcoin took over BNB’s position as the third-largest cryptocurrency. During press time, BNB stood as the fourth-largest asset with a market cap of $83.70 billion.
Binance Coin [BNB] one-day price chart
The one-day price chart of BNB was still residing in the bullish arena. The Parabolic SAR indicator revealed that it was trying to push the altcoin onto $500 by forming a line of support below the candlesticks. The Awesome Oscillator mirrored a similar emotion by laying out green closing bars. All these indicators were inclined towards the bull which could mean that BNB would sooner or later make it beyond $500.
Furthermore, the Relative Strength Index [RSI] indicator noted that Binance coin was being overbought. Not only was the RSI marker over by the buyers’ zone, but it had also pushed past 70 median and was on its way to the 80 median.