- Analysis of the BNB price reveals an upward trend with a 0.31% price increase.
- Uncertain price movement is indicated by technical indicators on the 4-hour price chart.
- Bulls restore control and drive prices up to $271.80.
Recent price analysis of BNB on the daily price chart indicates that the bulls are striving to recover control of the market after a sell-off and fall in the previous day. Price support for BNB was around $269.36, and since then, it has increased by 0.31% to $271.80.
While the trading volume has decreased by 8.01% to $530,641,199, the market capitalization has climbed by 0.13% to $43,712,524,833.
In recent hours, bears had taken control of the market, but the bulls fought back and eventually gained control, driving prices upward.
The 4-hour price chart’s expanding Bollinger Bands indicate increasing market volatility. In addition, there is a solid upward tendency in the market’s momentum. In contrast to the top band, which touches 275.6, the lower band touches 270.2.
The RSI has a reading of 47.16 and is pointing north. Additionally, at a reading of 47.16 and rising, the RSI score shows that the market is stable and that the bullish momentum seen on the 4-hour price chart may continue.
The Moving Average Convergence Divergence (MACD), which has a reading of -0.1 and is below the signal line, nevertheless, indicates a bearish trend. If the bulls are successful in holding the resistance level, this MACD negative trend will reverse.
The Chaikin Money Flow (CMF) reading is 0.16. According to this indicator, a value larger than zero and a direction going north indicates a bullish trend.
The moving average shows a bearish crossover despite readings on other indicators, with the longer-term MA crossing over the shorter-term. The 5-day MA hits 271.8, while the 20-day MA touches 272.9.
In general, the bulls are working to maintain the positive momentum while attempting to keep the prices steady.
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