The price analysis of Coin An Coin shows a rare bearish return today, as the price surged by more than 12% to the resistance level of nearly $300. Since a significant decline of 34% on November 8th, BNB has broken through the level of $295 for the first time
The price analysis of Coin An Coin shows a rare bearish return today, as the price surged by more than 12% to the resistance level of nearly $300. Since a significant decline of 34% on November 8th, BNB has broken through the level of $295 for the first time. Afterwards, BNB stabilized near the support area of $250 to establish momentum, and can now put the token on track at $320. However, after clearing the resistance levels of $265 and $270 on the same day, the direct resistance level was at the $300 level.
The larger cryptocurrency market responded in a similar manner to BNB, with Bitcoin rising approximately 3% to $16500 and Ethereum rising 4% and consolidating above the $1100 area. In counterfeit currency, Ripple rose slightly to $0.38, while Cardano rose 2.5% to $0.31. At the same time, Dogcoin rose 4% to $0.08, while Boca rose 3% to $0.31. Solana recorded its largest daily increase of 20%, breaking the $14 mark.
Analysis of Coin Prices: BNB Soars Above the Moving Average on the Daily Chart
On the 24-hour candlestick chart of BinanceCoin price analysis, it can be seen that the price has formed a rapid upward trend after extending the horizontal cycle near the $250 level. During this process, BNB prices rebounded and broke through the 9 day and 21 day moving averages, as well as the 50 day index moving average (EMA) of $276.44.
The 24-hour Relative strength index (RSI) showed a positive momentum of improvement, rising to 53.85. As the price rises to the resistance level of $300, RSI will enter the oversold zone, and it is expected that there will be a correction in the price at that time. At the same time, it can be seen that the Moving Average Convergence Difference (MACD) has rebounded, executing a bullish divergence near the neutral region. The trading volume has increased by approximately 150% in the past 24 hours, indicating stable market interest in BNB.
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