Binance Coin dropped to $240 before recovering to $277, with the alt posting higher lows along the way. Further down the crypto-ladder, Cosmos surpassed $21.3, and a dip to $21.4 was easily purchased. Finally, Dogecoin was in a temporary halt.
Binance Coin [BNB]
Over the last few days, BNB has become quite erratic in the markets. A bearish retest of $280 occurred a few days ago, and BNB fell to test $240. Following that, BNB saw a bounce to $257 and another leap to $277, with the price recently confirming $257 as a level of support.
The Awesome Oscillator revealed that there was no discernible momentum in any direction. The flip from $257 to help highlighted some strength on the part of the market’s bulls, and BNB could retest $277 in the coming days.
A rejection at $277 accompanied by the creation of a higher low for BNB in the immediate future would be a sign of bullish intent.
Since early March, ATOM has been jumping between $18 and $21.3. Over the last 24 hours, ATOM has soared past $21.3 on heavy volume to hit $24.4. ATOM was pressured to correct after the powerful move, but momentum remained squarely in bullish hands.
At the time of writing, the RSI was at 59, and the Stochastic RSI had reversed itself from the overbought region. ATOM saw a candlewick that was moved up a few hours ago as the session closed orange, indicating that there was interest for ATOM near the $21.3-support mark.
The next resistance rate for ATOM will be $23.38 and $25.16.
The Bollinger Bands Width Tracker has been decreasing over the last two days, with DOGE seeking a temporary balance between buyers and sellers at $0.0575. The Chaikin Money Flow indicator revealed no nett capital flows benefiting either the purchasing or selling hand, reaffirming DOGE’s market neutrality.
DOGE has endured a double rejection just above $0.06 in the last ten days, putting a damper on bullish sentiment. As always, a large trading volume is the best indicator of a positive move for DOGE, and that volume was negligible at the time of publishing.
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