Binance Coin’s [BNB] breakout above $300 means this for the market’s bulls

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The daily market structure has turned bullish A pullback as deep as $290 remains a possibility though Binance Coin [BNB] reacted extremely positively over the past two days of trading. The bullish euphoria over […]

gains translated across the crypto-market and BNB gained by 20.5% within four days. A retracement before a sustained move higher up the charts remains possible too.On the daily timeframe, the market structure for Binance Coin seemed to be bullish once more. The recent lower high at $294 was beaten during the latest reversal, but the $309-mark has posed some resistance over the past 24 hours.

The Value Area High and Low were found at $322.8 and $274.7, respectively. This meant that $304.2 and $274.7 are two levels buyers will be interested in. In fact, a set of Fibonacci retracement levels were drawn based on the latest surge too. It showed the 78,6% retracement level lay at $276.7, which was almost the same level as the VAL. Moreover, the price action from early March showed the $285-$292 region was significant support on the lower timeframes. The RSI crossed over above the neutral 50-level and indicated bullish momentum had taken root. The OBV also recorded gains and could continue higher.Therefore, longer-term buyers can wait for a retracement into the $285-$292 zone.

The rising spot CVD underlined strong demand, but the Open Interest dipped over the last 48 hours. And yet, the price has appreciated during this time, which is evidence of weakening bullish sentiment.Subscribe to get it daily in your inbox.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

CryptoAmb /  🏆 22. in CA

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

BNB gets Binance’s nod for safety amid ‘unstablecoins’ frenzy- Here’s howBinance altered storing the industry recovery fund as stablecoins and moved it to BNB, ETH, and BTC. The crypto community believes that the decision could set off buying pressure. Binance CEO Changpeng Zhao announced on 13 March that the exchange would stop keeping the rest of the $1 billion recovery fund in stablecoin. CZ, as […]
Lire la suite »

Trudeau says Ottawa will help $300-million Michelin plant expansion in Nova Scotia | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Lire la suite »

Michelin to spend $300 million to expand, modernize Nova Scotia operations | SaltWireTire maker's investment comes with help of a recently enhanced provincial tax credit
Lire la suite »

Ontario Teachers' posts 4% return in 'difficult' investment environmentOntario Teachers\u0027 Pension Plan net assets grew to $247.2 billion, approaching its goal of $300 billion by 2030. Read more
Lire la suite »

Ontario Teachers' posts 4% return in 'difficult' investment environmentOntario Teachers\u0027 Pension Plan net assets grew to $247.2 billion, approaching its goal of $300 billion by 2030. Read more
Lire la suite »

Binance.US delists Helium [HNT], possibly over migration to SolanaBinance.US to delist Helium (HNT) and JasmyCoin (JASMY) after “in-depth review” Decision to delist the HNT trading pairs seems to be based on Helium’s migration to Solana Binance.US, the United States-based unit of the cryptocurrency exchange Binance, has decided to delist Helium (HNT) as well as JasmyCoin (JASMY) tokens from its platform. The aforementioned tokens […]
Lire la suite »