Binance Coin price analysis: BNB keeps $330 resistance in sight despite drop

https://www.cryptopolitan.com/binance-coin-price-analysis-2023-02-19/

Binance Coin price analysis shows price remains level to target the $330 resistance point, despite today’s minor downtrend to the $310 mark. BNB faced rejection around the $330 mark on February 16, after developing a positive upturn to get to that point. Since the rejection, Binance Coin has traded largely around the $309 mark, with today’s price action being around this point after price declined from $318. Binance Coin remains in pursuit of the $330 resistance, and any movement below the $300 support would invalidate the bullish thesis.

The larger cryptocurrency market largely remained at yesterday’s prices, as Bitcoin dropped to $24,300 with a minor decline, as Ethereum stayed at the $1,600 mark. Among leading Altcoins, Ripple dropped to $0.38, whereas Cardano dropped to $0.39 and Dogecoin faced a 2 percent downtrend to move to $0.08. Meanwhile, Polkadot increased 3 percent to move up to $7.43, and Solana 4 percent to $24.51.

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Binance Coin price analysis: Cryptocurrency heat map. Source: Coin360

Binance Coin price analysis: 24-hour RSI levels with signal line on daily chart

On the 24-hour candlestick chart for Binance Coin price analysis, price can be seen forming almost a horizontal trend since being rejected around the $330 resistance. Having traded largely around the $310 mark, BNB price finds itself around that point, despite promising technical indicators. Price currently remains above the 9 and 21-day moving averages, along with the crucial 50-day exponential moving average (EMA) at $311.5.

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Binance Coin price analysis: 24-hour chart. Source: Trading View

The 24-hour Relative Strength Index (RSI) can be seen forming a slight uptrend over the past 24-48 hours, since declining down to 42.47 within the oversold region. As the RSI denotes positive market interest for BNB, price could be expected to target the $330 resistance over the current trend. The moving average convergence divergence (MACD) curve also shows a bullish divergence in place, however, any movement below the $300 support zone would invalidate the bullish thesis.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Binance Coin price analysis: BNB bounces back to target $330 resistance

https://www.cryptopolitan.com/binance-coin-price-analysis-2023-02-18/

Binance Coin price analysis shows promising signs of an uptrend developing, as price increased more than 2 percent today to move up to $319, before settling at the current level of $314.9. Before today, BNB made an 8 percent jump to rise from $302, after successive downtrends at the $330 resistance point pulled price downward. Bulls will now be eyeing another go at the resistance point, with price in a position to consolidate an uptrend. BNB kept its 4th position in the crypto market, with a market capitalisation of $49,724,430,821.

The larger cryptocurrency market kept in the red zone from yesterday’s price action, as Bitcoin dropped to $24,500 with a 1 percent decline, and Ethereum to $1,600 with a similar downtrend. Meanwhile, among leading Altcoins, Ripple dropped 1 percent to $0.39 and Cardano to $0.40. Whereas Dogecoin stayed at $0.08 and Polkadot moved down by 2 percent to $7.17.

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Binance Coin price analysis: Cryptocurrency heat map. Source: Coin360

Binance Coin price analysis: BNB rises above moving averages on daily chart

On the 24-hour candlestick chart for Binance Coin price analysis, price can be seen forming an uptrend after a sustained bearish run at the start of the month pulled price back to the $300 mark. Having faced a rejection around the current resistance point at $330, BNB is expected to consolidate up to that point again over the current trend. Today’s price action moved BNB price above the 9 and 21-day moving averages, along with the crucial 50-day exponential moving average (EMA) $314.3 on the daily chart.

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Binance Coin price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can be observed making a move upwards after dropping further into the oversold zone at 43. As the RSI picks up, market inclination towards BNB is expected to strengthen and reflected in price trend upwards. Meanwhile, the moving average convergence divergence (MACD) curve also shows the trend line approaching the signal line to form a bullish divergence. Despite the bullish signs in place, any movement below the $300 support zone would invalidate the bullish sentiment for BNB.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Avalanche price analysis: AVAX could face yet another rejection at $20 resistance

https://www.cryptopolitan.com/avalanche-price-analysis-2023-02-16/

Avalanche price analysis shows its continued bearish trend in place, after price lost around 2 percent over the past 24 hours to drop as low as $19.45. AVAX has been struggling to break the $20 resistance since falling from this point yesterday and could yet be facing another rejection around this mark. After trending mostly sideways for the past week, AVAX moved from $17.45 to $20.12 yesterday, only to repel back over the past 24 hours. With a market capitalisation of $6,176, 563,195, Avalanche continues at number 16 in the cryptocurrency market.

The larger crypto market made minor increments that can be seen across the board, as Bitcoin revived up to $24,500 with a 2 percent incline, and Ethereum rose up to $1,600 with a 2 percent uptrend. Among leading Altcoins, Ripple dropped to $0.39, as Dogecoin moved down to $0.08 with a 2 percent decline. Cardano stayed at $0.39 over the past 24 hours, while Polkadot rose up to $6.57.

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Avalanche price analysis: Cryptocurrency heat map. Source: Coin360

Avalanche price analysis: RSI drops again on daily chart

On the 24-hour candlestick chart for Avalanche price analysis, price can be seen shifting from yesterday’s uptrend to record a declining price action over the past 24 hours. AVAX remains below the $20 resistance, however price still sits above the 9 and 21-day moving average, along with the crucial 50-day exponential moving average (EMA) at $18.56.

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Avalanche price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can be observed taking another hit after today’s price action, falling below the 60 mark to head towards the oversold region. Meanwhile, the moving average convergence divergence (MACD) curve also shows a bearish divergence in place as the trend line remains below the signal line. Support for AVAX sits at $18 and any downtrend further below this point would invalidate the bullish sentiment from the AVAX market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Solana price analysis: SOL continues decline to test $20 support

https://www.cryptopolitan.com/solana-price-analysis-2023-02-13/

Solana price analysis continues to show a bearish trend in place, as price dropped down to the $20 support level over the past 24 hours. SOL dropped 4 percent today, recording a low of $19.71, the lowest point since January 18. With the current bearish trend in place since the start of February, Solana price has dipped more than 23 percent, and subjected to further selling pressure. As price continues to test the $20 support, SOL could drop to the lower bottom at $16. Solana currently occupies the 11th rank in the market, with a market cap of $7,624, 435,534.

The larger cryptocurrency market also showed a bearish trend in place over the past 24 hours, as Bitcoin dropped to $21,600, and Ethereum to $1,400 with a 2 percent decline each. Among Altcoins, Ripple also lost 2 percent in price, moving down to $0.37, as Dogecoin dropped to $0.08. Meanwhile, Cardano also moved down 2 percent to $0.35, and Polkadot to $6.01.

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Solana price analysis: Cryptocurrency heat map. Source: Coin360

Solana price analysis: Price drops below moving averages on daily chart

On the 24-hour candlestick chart for Solana price analysis, price can be seen declining since the start of the current month, with a consistent bearish trend in place. With yesterday’s drop, the token moved below the 9 and 21-day moving averages, along with the crucial 50-day exponential moving average (EMA) at $21.74.

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Solana price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can be seen dipping into the 40’s which is classified as the oversold zone, indicating low market value for Solana. As price remains bearish, the RSI is expected to lower further before an uptrend is consolidated. Furthermore, the moving average convergence divergence (MACD) curve also shows a bearish divergence in place, whereas the 33 percent rise in trading volume over the past 24 hours shows constitution of selling action in place.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.