Market rebounds as $BNB & $ARB turn bullish.

This post does not represent any investment advice. The content featured on this post is for educational purposes only.

The crypto market is gradually regaining strength as more tokens join the bullish train. Some of the #altcoins that have hit the peak in recent weeks are BNB and Arbitrum with investors alerted for possible investment. 

BNB made a big impression in May jumping from a price value of USD 556 to USD 629. The momentum has continued in June with BNB climbing by 7% as the token looks to close down USD 650. In the same vein, BNB’s market cap is currently smashing it and could hit USD 100 billion in the coming months.

From the technical analysis, BNB bulls are firmly in control with the relative strength index (RSI) moving above the neutral line. With a move above the 20-day EMA value, BNB has outperformed Ethereum and Bitcoin in the past few weeks. With the bullish momentum set to continue, BNB’s price may hit USD 700 in June.

After a month where the Arbitrum token made only about a 2% leap, the token has gone above the USD 1 threshold. Although the token declined in the past week, Arbitrum’s market cap still stays beyond 3 billion USD. This new increase has been attributed to the Arbitrum ecosystem which currently holds the largest share among the layer 2 blockchains.

As for the market outlook, Arbitrum appears to be neutral with key market indicators such as the Relative Strength Index (RSI) talking to the bears. However, the token trades above the 200-day exponential moving average (EMA), giving it a chance to get on the bullish sentiment in the coming weeks.