All articles tagged with #binance coin
Binance Coin (BNB) is currently trading within a descending triangle, with its price at $593.11 after a recent 3% dip. Key momentum indicators show a balance between buyers and sellers, suggesting market consolidation. However, bullish signals such as the Chaikin Money Flow and Parabolic SAR indicate potential for a short-term price surge if buying pressure increases.
Binance Coin (BNB) has seen a significant increase in derivatives market volume, with predictions suggesting it could surpass $600 and potentially reach a new all-time high of $694. The coin's current price of $610 has helped it retain the number 4 spot, and analysis indicates that it may be ready to surpass its previous all-time high of $686.31. Factors such as liquidation levels and the Relative Strength Index (RSI) point to a potential bullish momentum, with the possibility of reaching $775 in a highly bullish scenario.
Bitcoin fell near a key support level after failing to sustain above resistance, while institutional investors continue to invest in digital assets. Bitcoin's fair value is estimated to be $55,000, and once that level is crossed, a blow-off top is expected in 2024. Support levels to watch in Bitcoin and altcoins include $29,500 for BTC, $1,853 for ETH, $0.66 for XRP, $220 for BNB, and $0.30 for ADA. The market is currently in a consolidation phase, with potential for both upward and downward moves depending on key levels being breached.
The cryptocurrency market remains range-bound despite a sharp rally in the US equities markets. Bitcoin is trading inside a descending channel pattern, with $25,250 as a crucial support level. Ether has rebounded off the 20-day EMA and is attempting to break above $1,927. Binance Coin is consolidating in a tight range between $300 and $317. XRP is attempting to hold above the 38.2% Fibonacci retracement level of $0.49. Cardano has risen above the 20-day EMA and is attempting to reach $0.42.
Bitcoin's 30-day volatility dropped to 1.52%, far below the yearly average of 4% and higher, and Glassnode data shows that Bitcoin's low volatility periods have only lasted for 19.3% of its total price history. Analysts at Glassnode arrived at a level of $32,000 for Bitcoin after focusing on active Bitcoin investors and removing coins that are lost forever. The short-term charts of Bitcoin and select major altcoins suggest that the bulls may be losing their grip.
The short-term outlook for Bitcoin and altcoins is uncertain, but analysts remain bullish about the long term. Blockstream CEO Adam Back recently said that “hyper-Bitcoinization” could soon come, boosting demand for Bitcoin. The charts of the top 10 cryptocurrencies show a possible recovery in the near term. The bulls and bears are in a tough tussle for the BTC/USDT pair, while the ETH/USDT pair could rise to the resistance line of the falling wedge pattern. Binance Coin continues to trade inside a descending channel pattern, while XRP is witnessing a comeback by the bulls. Cardano is being purchased on every minor dip, and Dogecoin may rally to the 50-day SMA. Polygon could pick up momentum and reach the downtrend line, while Polkadot has been struggling to start a recovery. Litecoin is trying to flip the 50-day SMA into support.
Bitcoin slipped below $27,000, indicating that buyers are struggling to sustain relief rallies. Institutional investors seem to be booking profits due to macro uncertainty. Ether turned down from the 20-day EMA, indicating that bears are protecting the level with vigor. Binance Coin turned down from the 20-day EMA, indicating that bears are active at higher levels. XRP broke above the overhead resistance but may oscillate between the downtrend line and $0.40 for some time. Cardano is fiercely defending the $0.38 resistance, and the bears have a slight edge.
Bitcoin is hovering near its critical overhead resistance at $31,000, while gold has risen close to its all-time high, indicating that Bitcoin is currently behaving as a safe-haven asset. Ethereum has broken out of the symmetrical triangle pattern and could rise to $2,000 and then attempt a rally to $2,200. Binance Coin is witnessing a tough battle between the bulls and the bears near the support line of the symmetrical triangle pattern. XRP is in a state of indecision, with the bears having a slight edge. Cardano is aggressively defending the support near $0.37.
Binance Coin (BNB), Polygon (MATIC), and Avalanche (AVAX) are three cryptocurrencies with strong bullish setups that are likely to witness significant growth. BNB is forming a symmetrical triangle pattern, MATIC is in a rising channel pattern, and AVAX is forming an inverted head and shoulder pattern. If these patterns hold, BNB could reach $480, MATIC could see a potential gain of 65-70%, and AVAX could surge to $29. However, investors should do their own market research before investing in cryptocurrencies.
Bitcoin has been trading below $29,000 for the past several days, with analysts divided on its near-term prospects. Ether's rally turned down from $1,943 on April 5, indicating that the bears are guarding the psychological level at $2,000 with vigor. XRP has stayed above the 38.2% Fibonacci retracement level of $0.49 for the past few days, indicating that the bulls are buying on shallow dips. Binance Coin is turning down from the 20-day EMA ($314), indicating that the bears are fiercely defending the level. Litecoin's failure to push above $96 has emboldened the bears who are trying to strengthen their position by dragging the price below the 20-day SMA ($90).
Bitcoin remains below $30,000, but MicroStrategy has added 1,045 Bitcoin to its treasury. A survey by Brown Brothers Harriman shows that 74% of institutional investors are interested in adding exposure to cryptocurrency-related exchange-traded funds. Ether rebounded off the 20-day EMA and broke above the overhead resistance at $1,857. Binance Coin's fall below the $306 support was aggressively purchased by the bulls. XRP dipped below the 38.2% Fibonacci retracement level of $0.49 but showed solid buying at lower levels. Cardano's price is getting squeezed between the 20-day EMA and the neckline of the inverse H&S pattern.
Bitcoin has risen to its highest level since Jan. 12, decoupling from the equities markets. Analysts suggest that quantitative easing may trigger a rally in Bitcoin and altcoins. The charts of the top 10 cryptocurrencies are studied to find out if Bitcoin and altcoins can sustain higher levels. Bitcoin bulls may find it easy to cover the distance to $32,000, with no major resistance between the current level and that price. Ethereum, Binance Coin, XRP, and Cardano are also analyzed.