Binance Coin (BNB)

The bulls were back in the crypto market. While an array of coins made sure to bag gains, Binance Coin [BNB] stayed rather still as it recorded no major price change over the last couple of hours. Meanwhile, coins like Ethereum [ETH], Bitcoin [BTC], XRP, Bitcoin Cash [BCH], and a few others managed to score maximum profits.

Bitcoin [BTC] had once again preceded over the $40K mark. The king coin hit this number for the second time this week. With bulls raging in its market, the chances of it moving beyond this level were high.

Circling back to Binance Coin [BNB], the asset witnessed minimal to no change in its price. While the entire market was painted green, BNB was one among a few other assets that were still living in the red zone. At the time of writing, BNB was trading for $312 with a 1.12% drop over the last 24-hours.

Despite its price situation, the altcoin managed to stay in the top five with its market cap settled at $53 billion.

Binance Coin [BNB] one-hour price chart

Even though BNB was seen swimming in the red sea, the short-term prediction of the altcoin seemed pretty great. All the indicators used in the short-term price chart of BNB were slanted towards the bull.

The Awesome Oscillator indicator noted the arrival of the bull as it formed green closing bars. The Chaikin Money Flow indicator followed suit as it remained over the zero median in the bullish field.

The Relative Strength Index [RSI] indicator was above the 50 median which is considered a buyers’ market. However, the RSI marker was pointed towards the sellers’ arena.

Additionally, not long ago, Binance carried out its 16th quarterly token burn. A total of 1,296,728 BNB was burned during the process. At the time, the total BNB burned was worth $393,673,653.

The volatility wave had hit the crypto market yesterday and kicked an array of assets to the curb. Binance Coin [BNB], Cardano [ADA], Dogecoin [DOGE], Polkadot [DOT], among many other assets, were seen recovering from yesterday’s downfall.

Bitcoin [BTC] investors were left in a state of tyranny after the king coin dropped to a low of $29K. Just when speculations started pouring that the asset might even drop to a low of $20K, it managed to navigate its way back over $30K. At press time, BTC was trading for $31,416 with a 5.98% surge over the last 24-hours.

The cryptocurrency exchange, Binance, has been undergoing immense scrutiny from regulators across the globe. This did not influence the price of the exchange’s native asset, Binance Coin [BNB]. The altcoin did not lose much yesterday; however, it seemed to be bagging the required gains. During the time of writing, BNB was trading for $286 with a 9.61% rise in the last 24-hours.

Additionally, the market cap of the coin was at $48.07 billion. This gave the altcoin leverage over Cardano [ADA] as BNB took over as the fourth-largest cryptocurrency.

Binance coin [BNB] one-hour price chart

The short-term price chart of the Binance coin noted the arrival of the bulls and the departure of the bears. The Parabolic SAR indicator was seen reversing the trend by slowly laying out dotted lines below the candlesticks. This further indicates bullish momentum. Similarly, the MACD line took over the signal line forming a bullish crossover after quite some time. The disparity between the MACD line and the signal line revealed that a bearish crossover wasn’t in the books for some time.

The Relative Strength Index noted that BNB was heading towards the overbought zone. The RSI marker was seen going from the oversold zone all the way to the overbought zone in just a day.

With the bears taking over the BNB market, the altcoin could glide towards $300 without any hassle.

With regulators across the globe trying to take the cryptocurrency exchange, Binance down, its cryptocurrency Binance Coin [BNB] was seen residing in the bear market similar to all the other coins.

Changpeng Zhao’s Binance has been encountering a series of troubles. Regulators from Japan, UK, Singapore, and most recently, the Cayman Islands have been trying to oust the crypto platform out of the respective region, citing issues pertaining to license and registration.

This, however, did not have much of an impact on the crypto exchange’s native asset, Binance Coin [BNB]. BNB was undoubtedly the star of the crypto rally. Surging from as low as $64 all the way to a high of $700, caught the eye of many. The bear did not seem to like this impeccable growth of the altcoin as it went on to diminish it.

At the time of writing, BNB was trading for $284 with a 1.76% surge in the last 24-hours. Throughout the week, the altcoin barely noted significant losses or gains. In terms of market cap and ranking, the altcoin took over prominent assets like Cardano [ADA] and XRP. During press time, BNB was ranked third while its market cap stood at $43.69 billion.

Binance Coin [BNB] one-hour price chart

In the short-term price chart of BNB, it looked as though the bulls were making way for the bears. The Awesome Oscillator indicator was seen laying out dainty red bars after a few green bars. However, with red closing bars, the indicator affirmed the presence of the bear.

The MACD indicator was still residing in the bullish realm. But, the signal line was seen reaching out the MACD line, mostly heading for a bearish crossover.

After a notably short stay in the buyers’ market, BNB was headed back towards the sellers’ zone, the Relative Strength Index indicator affirmed.

All these indicators revealed that Binance Coin’s [BNB] journey towards $300 would take time.

The bears were staying longer than expected in the crypto-verse. Bitcoin [BTC], Binance Coin [BNB], Cardano [ADA] were all seen enduring a major loss. Almost every coin in the market was seen experiencing double-digit reductions. Bitcoin took a major hit as it retraced to $32K with a 9% drop in the last 24-hours. As BTC’s market cap slumped the overall crypto industry’s number also went on to sink to $1.51 trillion.

After witnessing radical growth since the beginning of the year Binance Coin [BNB] was seen losing out on all the gains it garnered. The bears undoubtedly took this asset down. However, it did not steer away from the top five. As the altcoin’s market cap was at $54 billion it retained itself as the fourth-largest cryptocurrency.

During the time of writing, BNB was trading for $348 with a 13.50% dip over the last 24-hours. Recently, the altcoin managed to rise up to $405, however, it was quick enough to fall.

Binance Coin [BNB] four-hour price chart

The bears were seen resting in the four-hour price chart of BNB. The Parabolic SAR indicator revealed that the bulls recently ended their stay in the BNB market as it formed a dotted line over the candlesticks, earlier today. This line further limited the chances of an uptrend. The MACD line has remained below the signal line since the 3rd of June and the indicator seemed to be persisting this bearish trend.

The Chaikin Money Flow [CMF] indicator followed a similar notion as it was seen residing in the bearish zone. The CMF marker dropped below the zero median last night and seemed to be going further down.

Looks like the Binance coin was being immensely sold. The four-hour price chart of BNB pointed out that there was limited buying activity in the market. The Relative Strength Index [RSI] indicator was close to the oversold zone. The RSI marker was at 35 median, which is considered to be a sellers’ arena.

The crypto market was finally gaining some positive momentum. Changpeng Zhao’s Binance coin [BNB] was performing better than all the other assets. Dogecoin [DOGE], however, stole the show as it noted a 23% daily surge. Dogecoin’s latest price change was the result of the altcoin landing a spot on Coinbase. Nevertheless, the entire market sentiment seemed to be positive after quite a while.

Despite this Bitcoin [BTC] remained below $40K while its market cap recorded dainty improvement. Furthermore, the global crypto market cap, during press time, was at $1.67 trillion.

Binance coin [BNB] witnessed exponential growth this year. The altcoin went from a low of $65 to a high of $690. However, similar to all the other assets, BNB plummeted during the recent crypto crash. At the time of writing, BNB was trading for $382 with a 10% surge over the last 24-hours.

Additionally, the altcoin started hiking up the crypto mountain as its market cap surged to $58 billion. While BNB stood as the fourth-largest cryptocurrency, it wasn’t too far away from taking over Tether’s [USDT] spot.

Binance Coin [BNB] one-hour price chart

The short-term price chart of BNB revealed that the overall predilection in the market was changing. The Bollinger Bands indicator alerted a surge in volatility as the bands were diverging. The Chaikin Money Flow [CMF] indicator harbored the bull as the CMF marker was in the bullish arena. The potential rise in volatility could benefit the altcoin as the bulls were finally in the BNB market.

The Awesome Oscillator noted a similar notion as it laid out strong green closing bars, further announcing a bullish momentum.

The bullish trend in the BNB market had surely lured in more buyers as a strong buyers’ sentiment was seen on the short-term price chart of the altcoin. The Relative Strength Index [RSI] revealed that BNB was being overbought. The RSI marker was over the 70 median. The Money Flow Index indicator echoed this viewpoint.

Even though the bulls were in Binance Coin’s short-term market, this positive impulse in the market was refreshing for coin’s investors.

The crypto-verse was undergoing bloodshed. Binance coin [BNB], Ethereum [ETH], Bitcoin [BTC] as well as several other coins were leading this downfall. This was further followed by a drop in the market cap of the crypto-verse. The overall market cap was done with its stay over $2 trillion as it succumbed to $1.84 trillion, during press time.

Despite the fact that Bitcoin [BTC] dropped down below $40K for the first time in several weeks, the community went on to propagate “buy the dip.” At the time of writing, BTC was trading for $39K with a 13% drop in the last 24-hours.

Binance coin [BNB] was enduring major losses over the last 24-hours as it slumped by 20%. The altcoin fell from a high of almost $700 to a low of $421, during the time of writing. BNB, however, managed to retain its place as the 3rd largest cryptocurrency. The market cap of CZ’s coin was noted at $65.

Binance Coin [BNB] one-hour price chart

Looks like BNB would prolong its stay with the bears. The one-hour price chart of the altcoin exerted major bearish signs. The Parabolic SAR indicator formed a line of resistance over the candlesticks and controlled any possible uptrend. The Chaikin Money Flow [CMF] indicator suggested that BNB was deep into the woods with the bear.

The Money Flow Index [MFI] indicator was down by the sellers’ zone and suggested that BNB was close to being oversold.

Binance Coin [BNB] one-day price chart

The one-day price chart of BNB was echoing the ongoing sentiment. The Awesome Oscillator indicator announced the presence of bears with the creation of red closing bars. The MACD line succumbed below the signal line forming a bearish crossover. The Relative Strength Index indicator was seen heading towards the sellers’ zone.

This nosedive in the price of almost all the assets would be prolonged as all the indicators affirmed strong bearish predilection.