Binance Coin, AAVE, Decred Price Movement Analysis for 23rd September, 2021

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The likes of Binance Coin, AAVE, and Decred all gained on their respective charts over the last 24 hours. BNB saw a considerable 7% hike in its price as it moved near its one-week high. AAVE’s recovery led it to appreciate by 6.2% over the last 24 hours. Finally, Decred logged gains of 5.9% and was trading close to its immediate resistance.

Binance Coin [BNB]

Binance Coin hiked by 7% over the last 24 hours and was trading at $372.1. Overhead resistance stood at $386.8. The other price ceilings stood at $416.4 and at the one-week high of $433.5.

The MACD underwent a bullish crossover and flashed green histograms. Chaikin Money Flow also stood above the half-line, indicating that capital inflows were positive. The Relative Strength Index, however, was in the bearish zone as it was positioned below the midline.

A sustained decline in buying pressure will drag the price further down. In case of such a situation, BNB could find itself trading at its nearest support level of $351.7.

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AAVE

Binance Coin, AAVE and Decred Price Analysis: 23 September

AAVE/USD, TradingView

AAVE’s price appreciated over the last 24 hours. The immediate overhead resistance for the coin stood at $338.25. Other price ceilings awaited the coin at its one-week high of $375.40 and then at its multi-month high of $414.15.

Owing to the coin’s recovery, the price of AAVE just crossed above the four-hour 20-SMA. This reading suggested that price momentum was in favour of buyers. The MACD flashed green histograms. The Chaikin Money Flow pictured positive capital inflows. The Relative Strength Index, however, displayed declining buying pressure.

On the flip side, AAVE’s immediate support stood at $271.09.

Decred [DCR]

Binance Coin, AAVE and Decred Price Analysis: 23 September

DCR/USD, TradingView

Decred gained 5.9 percent and was priced at $115.71. A move north could cause the alt to break through its immediate resistance level of $120.73. If the alt manages to break through the $120.73-resistance, the coin will face additional price ceilings at $134.61 and its weekly high of $154.04.

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Green histograms could be seen on the MACD. This suggested that the price could be on the rise. The Relative Strength Index remained below the half-line, indicating a recovery from the recent sell-off. At the time of publication, the Bollinger Bands were converging, indicating low price volatility.

If selling pressure outnumbers buying pressure, the altcoin’s price may fall to the nearest price floor of $107.31.

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