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As a result of the broader market recovery, several coins, while recording minor gains, were mostly trading sideways. Binance Coin, Sushiswap, and DASH all experienced similar price movements. Binance Coin was looking at its immediate resistance. Sushiswap was trading sideways, despite the fact that indicators remained negative. Finally, DASH increased despite the fact that buying pressure remained low.
Binance Coin (BNB)
Binance Coin had made a slight recovery and was trading sideways. The coin had gained 1.6 percent in the previous 24 hours and was now worth $350.2. The coin’s immediate resistance level was $351.7. If BNB maintains its gains and continues to rise, the coin’s price ceiling will be $386.8, followed by $416.4.
On the four-hour chart, the price of BNB remained below the 20-SMA. This indicated that the price of BNB favoured sellers.
The Relative Strength Index was found to be lower than the half-line. The bars on the MACD histogram receded, but it remained bearish. The Awesome Oscillator detected green signal bars, indicating that the coin was on a positive price reversal.
In case of buying pressure remaining low, the coin could fall down to its immediate support level of $325.09.
Sushiswap gained 1.1 percent and was trading at $9.40. During the previous trading sessions, the coin traded laterally. The coin’s resistance level was $10.11 above its current level. SUSHI could aim for $11.17 if the aforementioned ceiling is exceeded.
Although prices rose slightly, the possibility of another drop cannot be ruled out because indicators were heavily bearish. As selling pressure dominated the market, the Relative Strength Index fell below the half-line. As long as red bars were visible on the histogram, MACD was bearish.
Chaikin Money Flow was also beneath the midline as capital inflows were in the negative. If buying pressure consistently remains low, then prices could trade near a support level of $9.24.
DASH was trading at $165.93, up 2.1 percent in the last 24 hours. To be able to trade near the immediate resistance of $182.12, altcoin must maintain its uptrend. The technical indicators, on the other hand, were slow to reflect the increase.
Despite an increase, the Relative Strength Index remained below the half-line as buying pressure struggled to rise. The MACD indicator has also remained bearish. Bollinger Bands remained parallel, indicating that DASH may consolidate.
In the event that DASH loses its momentum, the coin’s support range remains between $162.56 and $149.79.