BAT,Binance Coin, SushiSwap Price Movement Analysis for 21st February 2021

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The crypto market saw a revived buoyant momentum as Bitcoin leapt onto the charts to set new all-time highs. At the time of writing, Bitcoin traded $57582 in a 24-hour trading volume of $56.2 billion.

Source: CoinStats

Interestingly, with the King coin northbound on the charts, many of the market’s altcoins, such as Binance Coin and SushiSwap, have also seen their price appreciate over the last few days.

Basic Attention Token [BAT]

Source: BAT/USD, TradingView

BAT’s price has also been trading sideways over the past week and has not registered any gains over the past week. At the time of the news, BAT traded at $0.59 and faced considerable resistance in the price range of $0.69. If the coin were to see a downtrend materialise, the price would need support at $0.52 and $0.40.

The technical indicators point to a trend reversal in BAT’s price action. The MACD indicator is on the verge of a bearish crossover, while the RSI indicator is now moving away from the over-purchased area, but may return to it if the buyers continue to dominate the market.

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Binance Coin [BNB]

Source: BNB/USD, TradingView

Binance Coin traded at $293.2 with a market capitalisation of more than $45 billion at the time of publication. The coin has seen its price rise by more than 124% over the past week. After the price rose on Feb. 19, the coin continued to assess the resistance at a price point of $360. If the coin fails to break this rank, it’ll soon go to $237 for help.

The EMA ribbon has settled close to the $160 price range and, if the first aid fails, BNB may borrow aid from the EMA ribbon in order to stabilise its price. The MACD predictor, however, indicates a scenario in which the bulls would prevail after they have undergone a bullish crossover.

SushiSwap [SUSHI]

Source: SUSHI/USD, TradingView

SushiSwap’s stock has risen by more than 13 per cent over the past week and is currently trading at $17.8 with a market cap of $2.2 billion. Despite the gains recorded in the last week, from a long-term perspective, the coin remained very wide-ranging between the $20.3 resistance and $12.3 support.

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The Bollinger Bands continue to contract to represent the low level of volatility in the price action of the coin. The MACD indicator saw that its signal line crossed the MACD line as a bearish crossover was observed.

 

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