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Binance Coin (BNB)

Binance Coin’s [BNB] Selling Pressure Resumes; Price Faces Stiff Resistance At $40

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Binance Coin [BNB] has been one of the best performing crypto-assets in the latest bull run. Its YTD gains neared 200% after it climbed its previous price all-time high. However, BNB faced minor retracement, as the cryptocurrency market cap fell roughly $100 billion. The mounting bearish pressure was felt by several altcoins which led BNB to record a weekly loss of 8.71%.

Over the past 24-hours, BNB was down by 1.70% which drove its price to $37.83. At the time of writing, the crypto-asset registered a market cap of $5.37 billion and a 24-hour trading volume of $572 million.

Despite the sharp correction, will a short-term top materialize?

Binance Coin [BNB] Daily Chart:

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Binance Coin [BNB] had failed to build upon the recovery despite buying the dip. The BNB price candles strictly followed an ascending channel pattern oscillating between the two upward sloping trendlines. As predicted, the outcome was a bearish breakout following the completion of the pattern as the crypto-asset took a dip right after establishing a fresh all-time high.

Looking closer at the above chart, it can be noted that the $41.35-$44.02 region served as strong resistance as BNB saw a pullback. This correction back closer to its support level further signaled a good opportunity for the market participants to enter a long position.

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The technicals for Binance Coin, however, appeared to be bearish. The MACD, for instance, generated a weak sell signal as it formed a bearish crossover under zero. A move by the MACD into the bearish territory can confirm that BNB was heading to make more losses in the coming days.

The RSI witnessed a steep fall, in tandem with the price, after climbing to the overbought zone and was found to be a little below the 50-median line suggesting a declining sentiment of buying pressure among investors in the coin market. This evidenced that a local top has formed at the recently touched ATH-level.

If this is indeed the case, then BNB’s price could continue to face resistances by $41.35 and $44.02 respectively in the near-term. In absence of bullish momentum, the crypto-asset could break its nearest support of $36.01 to target other downsides at $32.12 and $27.27 respectively.

Binance Coin [BNB] Could Soon Hit Another All-Time High As Bulls Take Over

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Bitcoin managed to take Ethereum [ETH], Binance Coin [BNB], and several other coins to the moon with it. Bitcoin shook the entire world as it went as high as $28K yesterday. While the king coin was seen reposing at $26,641.20, during the time of writing, several other coins continued to steer uphill. Ethereum was seen sitting at $723.93 after bagging gains up to 21.74% over the last seven days. A few other coins, however, were undergoing a slump. XRP was dropping by over 34%, at press time and this did not seem shocking, considering the suspension of trading of assets in an array of exchanges following SEC’s lawsuit.

At the time of writing, Binance Coin was seen taking a break from its uphill journey. The altcoin was trading for $38.14. The coin had witnessed a 7.70% surge just throughout the day and a 25.65% rise over the last seven days. BNB was recently overshadowed by several other coins in terms of market cap. BNB stood as the ninth-largest coin with a market cap of $5.559 billion.

Binance Coin [BNB] One Hour Price Chart

Binance Coin

In the one-hour price chart of Binance Coin [BNB], all the signs were pointing towards the bulls. The volume was quite high in the BNB market earlier today, however, during press time, the volume was seen depleting. The 50 daily moving average [Blue] was seen above the 100 daily moving average [Red]. This crossover is touted to be a bullish one.

BNB recently managed to sneak past a critical line of resistance at $36. The altcoin went all the way to $39.6 and is seemingly prepping for another all-time high.

Binance Coin [BNB] Price Chart With Indicators

Binance Coin

BNB had apparently packed for a journey to the moon. The Parabolic SAR indicator laid out dotted lines below the candlesticks, stopping any possible downward breakout. The MACD indicator was seen retaining its bullish crossover. The signal line was well below the MACD line. The Relative Strength Index revealed a buyers’ sentiment. The RSI indicator was seen recovering from its stay in the overbought zone.

Will Binance Coin [BNB] Finally Breach Its Rangebound Trap?

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The world’s leading cryptocurrency exchange, Binance’s native token Binance Coin or BNB has outperformed its peer altcoins in the latest rally as it breached several crucial levels along the way. Currently, the coin took a plunge following the market-wide pullback. Despite this, BNB continued to depict strong bullish momentum in terms of its price action as it climbed to pivot level.

Binance Coin [BNB] witnessed a minor decline of 0.38% over the last 24-hours while it recorded a value of $32.35. At the time of writing, the crypto-asset registered a market cap of $4.64 billion and a 24-hour trading volume of $522 million.

Binance Coin [BNB] Daily Chart:

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The BNB price candles appeared to be oscillating between the converging trendlines of an ascending triangle pattern. The horizontal trendline resisted an upward breakout in the coming days while the upward sloping line potentially indicated that a period of consolidation in the short-term before a bullish breakout.

The moving averages aligned with the bulls. This was inferred from the 50 DMA [Pink] and the 100 DMA [Blue]which appeared to undergo a divergence after days of appearing to poise for a  bearish breakout. The gauge between the two flipped bullish as it increased mimicking the positive price movement of the coin.

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The Bollinger Bands appeared to be diverging which demonstrated a period of volatility in Binance Coin’s [BNB] value. The coin was trading well below its resistance formed by the trendlines mentioned above. Hence, the movement of the bands indicated that the BNB could be heading for an uptrend in the short-term as the candle turned green.

Furthermore, the MACD also formed a strong buy signal after forming a bullish crossover well-above the zero-line. A move by the indicator into bullish territory can confirm that BNB was poised to make more gains in the near-term.

The RSI was also above the 50-median line suggesting a sentiment of high buying pressure among the investors in the Binance Coin [BNB] market.

Bulls have been attempting to push the price higher as the bears continued to defend a critical resistance of $34.32. According to the above charts, a breach of this point appeared to be unlikely in the short-term. But if this level is breached, Binance Coin [BNB] could eye other resistance points at $35.71 and $38.86 respectively.

Its support levels, on the other hand, were found to be at $29.38 and $28.92.

Binance Coin [BNB] Could Slump Below Major Support Level As All Signs Point Towards Bears

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The crypto market was muddled as the crypto coins were seen settling in different zones. Certain assets like Binance Coin [BNB], Polkadot [DOT], and Bitcoin Cash [BCH] were seen witnessing dainty changes in their prices. However, Stellar [XLM], XRP, and a few others were recording a surge. Just yesterday, Bitcoin fell down to $17K and broke several hearts. While the community expected the coin to go beyond $20K, the king coin staggered at within that. At the time of writing, Bitcoin was trading for $18,240.62 with a 0.16% drop in the last 24-hours.

At the time of writing, Binance Coin [BNB] was trading for $27.69 with a 0.74% slump in the last 24-hours. The coin had managed to secure gains up to 9.68% over the last week. The coin’s market cap was taken over by several other coins and was seen at the tenth position with a market cap of $3.999 billion.

Binance Coin [BNB] One Hour Chart

Binance Coin

Binance’s native cryptocurrency BNB was seen pushing past the week, however, indicators used in the one hour price chart of BNB suggest that the coin was in for a downhill journey. The daily moving average indicators signaled strong signs of bears in the BNB market. The 50 daily moving average [Blue] was above the 100 daily moving average [Orange], this crossover is normally bullish. However, both the 50 and the 100 daily moving averages were seen above the candlesticks which in turn is bearish.

Binance Coin [BNB] With Key Indicators

Binance Coin

The bears had taken over the BNB market as all the key indicators were seen hibernating with the bears. The Parabolic SAR indicator had laid down dotted lines above the candlesticks which blocked the chances of an upward breakout. This further pointed out that the BNB market was gearing up for a downward breakout.

The Awesome Oscillator indicator had formulated red closing bars indicating the presence of bears. The Stochastic RSI indicator was drowning in the oversold zone. With all the indicators suggesting that the bears were taking over the BNB market, the asset could slump below a prominent support line at $26.87.

Binance Coin [BNB] Aids To The Ongoing Trend And Gears Up For An Uphill Journey

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Green was the brightest shining light in the spectrum of the crypto-verse. XRP, Stellar, Binance Coin, Bitcoin Cash along with several other coins were seen assisting the price surge of the crypto market. On one hand, XRP was stealing the show with a whopping 39.91% rise over the last 24-hours. Bitcoin on the other hand was getting close to $19K. Binance’s native cryptocurrency BNB also seemed to be aiding the uptrend by surging by 9.31% over the last 24-hours. The price of BNB was noted at $33.65 with its market cap at $4.96 billion. Over the last week, the coin garnered profits of up to 20%.

Binance Coin [BNB] One Hour Price Chart

Binance Coin

A broadening top pattern was formed in BNB’s one hour price chart. The upper trend line was constituted by higher highs $33.87 and $35.26, the lower trend line was formulated by higher lows at $30.31 as well as $31.74. The aforementioned pattern is bullish as the direction of the breakout in this pattern is usually upwards.

The daily moving average indicator was in sync with the pattern that was formed as it revealed that BNB was getting cozy with the bulls The 50 daily moving average [Blue] was seen above the 100 daily moving average [Yellow]. When this crossover occurs, the market is usually in support of the bulls.

Binance Coin [BNB] With Key Indicators

Binance Coin

 

The Bollinger Bands indicator revealed that the BNB market was scheduled for a drastic change in price. The bands were seen wide apart which further indicated that there was an increase in volatility. The MACD indicator recently underwent a bullish crossover as the signal line slumped below the MACD line. The Stochastic Relative Strength Index [Stoch RSI] suggested that the BNB market was in a rather neutral zone with its marker heading below 50 median.

Thanks to the ongoing bull run, recently, BNB pushed past its major resistance levels at $29.60 and $31.

Cardano, Binance Coin, XRP Technical Analysis On 4th November 2020

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During the time of writing, all the crypto coins were seen recovering from yesterday’s set back. Coins like Cardano [ADA] and XRP were seen outperforming several other cryptocurrencies in terms of price change. The global crypto market cap was also seen surging by 2.18% pushing the final digits to $397.42 billion. The dominance of Bitcoin had also increased to 64.2%, at press time.

Cardano [ADA]

ADA was one of the best performing coins at the time of writing as it was rising by 5.91% over the last 24-hours. ADA continued to stay in the tenth position with a market cap of $3 billion. The altcoin’s price was noted at $0.094394 and had endured losses up to 6.74% over the last seven days.

Cardano, Binance Coin, XRP

Seems like the bulls were going to prolong their stay in the ADA nest. The MACD line took over the signal line yesterday and has continued the journey. With the formation of a bullish crossover, the MACD indicator sided the bulls. The Klinger Oscillator followed the MACD indicator’s trail and also formed a bullish crossover.

Binance Coin [BNB]

Binance Coin [BNB] was probably the only coin in the top ten that was seen in the red zone at press time. Changpeng Zhao’s coin had slumped by 16.14% over the last seven days and prolonged this streak. The coin was trading at $26.46, during the time of writing and its market cap was a little over $4 billion.

Cardano, Binance Coin, XRP

The one hour price chart of Binance coin was singing another song as it affirmed the presence of bears. The Awesome Oscillator formed several green bars, however, it closed with a red bar indicating a sign of bears in the BNB market. The Chaikin Money Flow indicator screamed bears as the marker was below zero.

Ripple [XRP]

XRP was seen benefitting from the trend reversal as it was surging by over 3% in the last 24-hours. The coin had fallen by more than 5.86% over the last seven days, however, it made sure to retain its price at $0.237163, at the time of writing. The coin continued to reign as the fourth largest coin with a market cap of $11 billion.

Cardano, Binance Coin, XRP

XRP’s hot streak was coming to an end as the bears had begun evading the market. The Parabolic SAR indicator cut out the chances of an uptrend with the formation of dotted lines above the candlesticks. The Relative Strength Index indicator pointed at a neutral notion as it was close to 50 median.

Chainlink, Bitcoin Cash, Binance Coin Technical Analysis On 3rd November 2020

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The global cryptocurrency market cap dropped to $391.98 billion after facing a considerable sell-off triggered by short-term traders booked for profits. Several altcoins such as Chainlink, Bitcoin Cash as well as Binance Coin slid below their respective support levels.

Chainlink [LINK]:

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Chainlink [LINK] was down by 8.55% over the last day which drove the token’s price to $10.36 as it held a market cap of $4.04 billion and a 24-hour trading volume of $1.69 billion.

LINK’s uptrend was halted by the increasing bearish pressure. This reversal in trend was noted by the red closing bars of Awesome Oscillator which depicted a bearish momentum in the coin’s price. Chaikin Money Flow did drop close to the zero-line, however, it has so far managed to hold its fort above the said mark. This essentially meant a minor decline in the inflow of capital in the coin market.

If the bulls manage to make headway, Chainlink could climb till its nearest target of $12.36. However, if the bearish pressure sets in, the token could face a retraction to $8.6.

Bitcoin Cash [BCH]:

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Bitcoin Cash [BCH] noted an 8.12% decrease over the last 24-hours. At the time of writing, BCH was valued at $238.8 as it recorded a market cap of $4.43 billion and a 24-hour trading volume of $2.85 billion.

The MACD generated a weak sell signal as it formed a bullish crossover under zero. A move by the MACD into the bearish territory essentially confirmed that BCH was heading towards further loss. The Klinger Oscillator also mimicked the price trend as it sustained a bearish crossover.

If the bulls fail to defend this support area, Bitcoin Cash could fall to another crucial support level of $219 while the resistance recently breached $268.

Binance Coin [BNB]:

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Over the last 24-hours, Binance Coin [BNB] fell by 7.36% pushing the price to $26.64. BNB registered a market cap of $3.84 billion and a 24-hour trading volume of $452 million.

Following the latest downturn in the market, the dotted markers of the Parabolic SAR aligned above the BNB candlestick resisting a potential upward breakout. The Relative Strength Index took a dive closer to the oversold region suggesting a rising sentiment of increasing sell-pressure in the coin market.

If this persists, Binance Coin could spiral to its immediate support level of $23.29 while its resistance remained unbreached at $31.49.

Binance Coin, Tron, Bitcoin Cash Technical Analysis On 1st November 2020

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The global crypto market cap has jumped back to $400 billion, according to CoinMarketCap, despite inaction in the price of several altcoins including Binance Coin [BNB], Tron [TRX], and Bitcoin Cash [BCH]. Bitcoin’s stint above $14,000 was cut short as overhead resistance strengthened. The coin was consolidating below this region while altcoins, on the other hand, registered a notable decline over the past day.

Binance Coin [BNB] 

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Over the past 24-hours, Binance Coin [BNB] was down by1.29% and was priced at $28.25 as it held a market cap of $4.08 billion and a 24-hour trading volume of $329 million.

BNB was turned down from the recently established local top of $31.57 which acted as a crucial resistance area. This was depicted by the red closing bars of Awesome Oscillator which flipped into bearish momentum in the coin’s price. Further validating the bearish pressure was the fall of Chaikin Money Flow below the zero-line depicting an outflow of capital from the coin market.

If the bears succeed in its attempt to price the sink lower than the current level, BNB could find itself retest its immediate support level of $22.96.

Tron [TRX]

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Tron [TRX] also depreciated by 1.55% over the past day which drove its price to $0.0256. At the time of writing, TRX registered a market cap of $1.83 billion and a 24-hour trading volume of $872 million.

TRX was trading a little above its support level of $0.0254 for nearly two months without much progress. The inaction in terms of its price has triggered a bearish crossover for Klinger Oscillator. The MACD has been pointing towards a sell signal over the past week. Furthermore, a few days ago, it also moved beneath the zero-line, thus indicating stronger bearishness.

The $0.247 level can offer some support if TRX dropped further while its overhead resistance remained unbreached at $0.030

Bitcoin Cash [BCH]

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Bitcoin Cash [BCH] was valued at $261 after a decline of 1.01% over the last 24-hours. It recorded a market cap of $4.85 billion and a 24-hour trading volume of $1.67 billion, at the time of writing.

Despite the latest price dip, the bears have continued to defend the current range. This was demonstrated by the dotted markers of Parabolic SAR which supported the BCH price candles from an extended loss, thus exhibiting a bullish trend for the coin. A further upward breach, might not play out despite the bullish patterns was due to the formation of a bearish divergence between the price and the RSI. These essentially meant that the sellers were not done yet.

In the case of depreciation, BCH could retrace to the $241 support level as it found significant resistance from $291.

Polkadot, Ethereum, Binance Coin Technical Analysis on 29th October 2020

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The entire crypto market was struck by the red wave. The bulls were seen leaving the market as the bears were getting settled. The market cap of the crypto industry also followed suit as it depleted by 2.07% in the last day, pushing the overall market cap to $388.53 billion. Bitcoin’s dominance was the only metric that was seen increasing as it was noted at 62.3%.

Polkadot [DOT]

After enjoying their stay in the DOT market, the bulls had packed their bags as the altcoin was dipping by 6.54% over the last day. The coin was trading for $4.20, at the time of writing and its market cap was a little over $4 billion.

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The short term price chart of DOT affirmed the presence of bears in the market. The Relative Strength Index [RSI] revealed strong sellers’ sentiment as the RSI marker was in the oversold zone. The Klinger Oscillator affirmed bear momentum in the DOT market with the formation of bearish crossover.

Ethereum [ETH]

ETH went past $400 multiple times this year, however, this stay was always brief. Yet again, repeating its usual trend, ETH experienced a pullback as it stood at $383.18, during press time with a 2.39% drop over the past 24-hours. The coin had also endured a slump of 7.1% over the last seven days.

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Strong bearish sentiment was exhibited in the one-hour price chart of ETH. The Parabolic SAR indicator was quick enough to layout dotted lines above the candlesticks blocking the chances of an uptrend. The Awesome Oscillator acknowledged bear invasion with the formation of red closing bars.

Binance Coin [BNB]

Changpeng Zhao’s cryptocurrency, the Binance Coin [BNB] was also part of the crypto carnage. The coin was secured in the seventh position with a market cap of $4 billion. At the time of writing, BNB was trading for $29.77 with a 3.59% drop in the last 24-hours.

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Recovering from its recent bullish crossover, the signal line was seen sluggishly creeping over the MACD line. With this, the MACD indicator underwent a bearish crossover. The Chaikin Money Flow [CMF] indicator restored a sense of hope in the BNB market as the CMF marker was in the bullish zone which is above zero.

XRP, Binance Coin, Litecoin Technical Analysis On 24th October

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The crypto-verse was seen taking a break from its recent bull run. Most of the coins during the time of writing were seen experiencing dainty changes in its price. The global market cap was also reposing after its efforts to cross $400 billion was underway. The market cap of the entire crypto market was noted at $395.73 billion and Bitcoin’s dominance continued its dominance by 60.8%.

Ripple [XRP]

XRP was one of the few coins that were residing in the red zone. The coin’s market cap was at $12 billion and prolonged its stay below the stablecoin Tether. The altcoin was trading at $0.2561 with a 0.72% drop over the last 24-hours. The coin had garnered gains up to 6.06% over the last seven days.

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XRP was going to see better days as the key indicators employed in the altcoin’s one day chart stressed on a bullish presence. The Awesome Oscillator indicator formed green closing bars, welcoming the bulls into the market. The Relative Strength Index was above 50 median highlighting a buyers’ sentiment.

Binance Coin [BNB]

BNB was also following XRP’s trail as the coin was seen depleting by 1.26% over the last 24-hours. The coin fell below Chainlink with regards to its market cap which was noted at $4 billion. BNB was trading at $30.65 during the time of writing and had barely acquired any profit over the week.

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A contrasting notion was observed in the BNB market as the indicators delivered opposing predictions. With dotted lines below the candlesticks, the Parabolic SAR invited the bulls into the BNB market. The MACD line, however, fell below the signal line forming a bearish crossover.

Litecoin [LTC]

LTC was probably one of the most profiting coins over the week as this digital silver recorded a 23.55% increase over the week. The altcoin climbed up the crypto ladder and stood as the eighth largest crypto asset as its market cap rose over $4 billion. At press time, the coin was trading for $58.63 with a 5.97% increase over the last 24-hours.

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LTC was reposing in the bullish territory as the one day chart for the altcoin revealed strong buyer’s sentiment. The Chaikin Money Flow indicator was seen above zero giving rise to bullish predilections. The Klinger Oscillator affirmed the presence of bulls in the LTC market with a bullish crossover.