The cryptocurrency market has seen robust bullish momentum over the previous two days. As the worth of Bitcoin hits an all-time excessive, different altcoins available in the market have additionally seen value spikes. On the time of writing this text, BTC was buying and selling at $ 57,360 with a 24-hour buying and selling quantity of $ 60.4 billion.
Binance Coin [BNB] was a type of altcoin markets that not solely hit an all-time excessive, however its market capitalization additionally elevated taking it to quantity three on the CoinMarketCap crypto record.
Binance Coin [BNB]
The chart above from Binance Coin indicated that the digital asset is at present buying and selling at $ 296.97, close to its excessive at $ 368. Over the previous two days, the worth of altcoin had elevated considerably. It broke by way of resistances seen available in the market and eventually peaked.
Nonetheless, the worth retraced and has been shifting sideways since.
This retracement may be seen by way of the Stochastic RSI which had remained within the overbought zone till BNB peaked. As soon as the worth fell, the digital asset fell beneath the 70s indicating that sellers available in the market had been on the rise.
Likewise, the nonetheless bullish MACD indicator was about to expertise a pattern change. The MACD line remained above the sign line, noting the acute optimism available in the market, however because the sell-off elevated the asset was heading for a minor correction.
Tron [TRX] famous the market volatility. The worth of the digital asset was at present buying and selling between $ 0.0633 and $ 0.0581. This sideways momentum seems to have maintained the market’s bullish pattern because the sign line remained beneath the candlesticks.
Nonetheless, Bollinger Bands remained divergent which advised that the worth might transfer additional given the volatility available in the market. Even when the worth flips, there was help provided at $ 0.581, and if the worth strikes increased, it might want to re-test the resistance at $ 0.0633.
In the meantime, the Relative Energy Index famous that TRX had climbed close to the overbought zone, however patrons have but to completely take over.
FTX Token [FTT]
The TTF was beforehand restricted to a brief vary of $ 19 and $ 21. Nonetheless, because the altcoin market adopted Bitcoin’s lead, the worth of FTT has additionally seen great progress. Its worth climbed above $ 40 and, just like the widespread pattern seen available in the market, returned.
As the worth moved between $ 35.56 and $ 32.04, the market grew to become saturated with patrons. The Relative Energy Index highlighted that the TTF entered the overbought zone a couple of days in the past and has stayed there. Regardless of the consolidation, patrons have persistently held the worth above $ 32.
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