BinanceCoin According to the data, the price of (BNB) increased by 3.15% in the last 24 hours and reached $280. This performance has made the coin the best-performing cryptocurrency among the top 10 assets per market.
In the same period Bitcoin There were slight decreases in the prices of (BTC), Ethereum (ETH) and Solana (SOL). This move is considered a positive development for BNB holders who had to deal with losing the number 4 spot to Solana.
A Break Is Coming
According to the BNB/USD 4-hour chart, volatility around the coin is increasing. This conclusion is confirmed by Bollinger Bands (BB). BB also showed that the upper band cut off the sharp candle that took BNB to $279.80.
This means that BNB is overbought and suggests a reversal in the coin’s price. Looking at On Balance Volume (OBV), it can be seen that the indicator is rising. An increase in OBV indicates that accumulation is occurring. this too altcoinIt gives a warning that it may explode soon.
If accumulation continues to increase, there is a chance that BNB will add another 20% increase and reach $300. However, investors may need to keep an eye out for any signs of dispersion. If dissipation outweighs accumulation, the breakout to the upside may become invalid.
Binance Coin Bulls Win the Day
Koinfinans.com As we reported, at the time of writing, there has been a decrease in upward momentum as the price has fallen to $276.30. However, the Relative Strength Index (RSI) showed that the price decline may not last long. At the time of writing, the RSI was 68.65.
The RSI value is a sign that buyers are in control. At the same time, market participants need to pay attention if the RSI reaches or rises above 70.00. If this happens, the coin price may drop.
Additionally, Chaikin Money Flow (CMF) increased to 0.14. CMF measures buying and selling pressure over a specific time period. The increase in CMF also supports the bulls and indicates a faster inflow of money for a bullish divergence.
Going forward, BNB’s price may also follow the broader market rally. However, it may be difficult to get the coin back from SOL.
SOL has been one of the best performing cryptocurrencies on the market this year. Therefore, crypto- The money is unlikely to stop its momentum. However, in this form, BNB can continue to maintain its 5th place in the market value ranking.