š„š„Binance Coin (BNB) Exceeds $300 With Its Definite Release
According to CoinMarketCap data, the price of Binance Coin (BNB) has reached $ 300 with an increase of 20.15% in the last 24 hours. The performance has made Decoin the best performing cryptocurrency among the top 10 assets per market.
During the same period, there were slight decreases in the prices of Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). This move, 4. it is seen as a positive development for the owners of BNB, who had to deal with losing the queue to Solana.
According to the BNB/USD 4-hour chart, the volatility around cryptocurrency is increasing. This inference was confirmed by the Bollinger Bands (BB). BB also noted that the upper band broke the sharp candle, which pushed BNB to $ 279.80.
This means that BNB is overbought, which indicates that the cryptocurrency price has reversed. When the Equilibrium Volume (OBV) was examined, it was seen that the indicator had increased. The increase in OBV indicates that accumulation is taking place, which is a warning that cryptocurrency may explode soon.
With the backlog continuing to grow, BNB added another 20% increase, reaching $ 300.
BNB Bulls Have Their Day
However, the Relative Strength Index (RSI) showed that the price decline may not last long. At the time of writing, the RSI was 68.65.
An RSI reading is a sign that buyers are in control. At the same time, market participants need to pay attention to whether the RSI has reached 70.00 or has passed this level. In such a case, the coin price may decrease.
In addition, the Chaikin Money Flow (CMF) increased to 0.14. The CMF measures the buying and selling pressure over a certain period of time. The rise in the CMF also supports the bulls, which is an indicator of faster money flow for the bullish trend.
Going forward, the price of BNB may also follow the broader market increase. However, it may be difficult for the coin to replace SOL.
