272 Interactions, 2 today
Binance Coin has made tremendous progress in recent weeks. BitTorrent Token may consolidate before recovering, while Ontology may face selling pressure if it exits the rising channel in which it was traded.
Binance Coin [BNB]
BNB has risen from $225 to $473 between March 25 and April 10, at the time of publication. Extension thresholds were plotted using the Fibonacci tool for its shift from $225 to $356, where BNB had encountered some opposition in early April. These thresholds have been met, and more aggressive BNB goals are in the $550 range.
It is not impossible that BNB would hit these thresholds, particularly with the BNB quarterly burning scheduled for later this month. On the hourly chart, the RSI remained above neutral 50, indicating an ongoing uptrend, and no divergence was observed. The Stochastic RSI was approaching oversold territory.
BitTorrent Token [BTT]
BTT burst out of a descending channel on the hourly chart but was refused at the $0.01 resistance mark. Often breakouts from descending channels consolidate within a range before approaching the channel’s top.
This may be what’s going on with BTT. It has a resistance level of $0.01 and a support level of $0.0075. The $0.0085 breakout point is also likely to function as help.
The trading rate was declining. The Awesome Oscillator indicated the presence of bearish pressure, though it was not solid.
ONT was trading within a channel as well, but it was ascending. Again, the short-term forecast positioned ONT right next to a degree of significance. The $2.05 level provided resistance for ONT, while the lower boundary of the rising channel provided support.
ONT started trading in this trend about three days before the time of publication. A session close under the channel will almost certainly see ONT facing further selling pressure, taking it to the channel’s bottom at $1.72. THE OBV has been rising in recent days, but the MACD has begun to fall.