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After a decline from historic highs, BAT held the $1 mark. Following an accumulation period, Binance Coin proposed a target price of $300 or higher. Monero’s gains were limited at $239.4 resistance.
Binance Coin [BNB]
Sellers ruled the area above $277.72, stopping Binance Coin’s rebound towards its ATH. After falling to $245.17-support, BNB has shown rangebound conduct, which may be suggestive of an accumulation period as the market braces for the next major swing. Although the OBV showed some demand above the $277.72 resistance level, the index fell as selling interest outweighed buying pressure. After the price shifted southbound on the 4-hour timeframe, the index has also shown a lack of purchasing interest.
The Chaikin Money Supply, which had stayed above the half-line for nearly a week, was on the verge of dropping lower at the time of publishing. The bulls’ medium-term goal was set at $300. A increase above this level is expected to see BNB surpass newer milestones on the rankings.
Rising above the $239.4-resistance level will likely propel Monero to its next goal of around $260, but bears have kept the price limited in recent weeks. The RSI, which has already pointed north from the 50-point, could indicate an upward breakout if it persists on its current path in the coming sessions. However, the Awesome Oscillator, which was on the sale side at the time of publication, will have to show the same sentiment.
Given the divergence between the metrics, a sharp move is impossible in the immediate term, and XMR is expected to stay rangebound until the wider market recovers.
Basic Attention Token [BAT]
After a decline from record highs, Basic Attention Token retained its $1 price range. Bullish spinning tops on the 4-hour timeframe meant that the correctional era was over. According to the Bollinger Bands, low volatility foreshadowed a period of convergence in the future. If the candlesticks rise above the Signal line, consolidation would most likely occur below the $1.27 resistance mark.
The ADX Tracker was pointing south from 40, suggesting that the bulls were losing market momentum. If BAT falls below the 25-level, it will most likely trade sideways in the coming sessions. However, the bulls should be wary of a move below the press-time help. In such a case, BAT will most likely collapse to the next line of support at $0.94.