The past week saw Bitcoin come close to $24,000 as it shattered previous resistance levels and registered a new ATH on the charts. Such bullish momentum has translated well for the altcoin market, thanks to its high correlation with the world’s largest and most dominant cryptocurrency. Popular altcoins like Binance Coin, Dash, and Augur all surged on the charts, ending up posting double-digit gains on the price charts.
Binance Coin [ BNB]
Binance Coin, at the time of writing, was trading at $32.4 after having seen a price rise of over 15 percent in the past seven days. At press time, BNB had a market cap of $4.6 billion and a 24-hour trading volume of $405 million. The coin was close to testing the resistance level between $33 and $34. However, if a price correction were to take place, BNB may need the help of its tested supports at $30 and $29.
The technical indicators for Binance Coin supported a bullish narrative. The RSI indicator continued to maintain its position well in the overbought zone while the MACD indicator concurred with this sentiment as it underwent a bullish crossover.
Dash, at press time, occupied the 29th rank on CoinMarketCap’s list. After having risen by over 10 percent over the past week, Dash was trading at $106.8, with the crypto having a market cap of just over $1 billion. The past 24-hours for the coin involved mostly sideways price movement. In fact, the crypto was trading close to its immediate support at $103, having a significant resistance level around the $113-price range.
The EMA ribbons seemed to be supporting Dash’s price after having settled below it and the RSI indicator continued to remain close to the overbought zone – a rather positive and bullish sign for the coin’s price.
Augur noted a 28 percent hike in price over the past week, with the crypto trading at $19.2, at press time. With a market cap of $216 million, Augur was occupying the $73rd spot on CoinMarketCap’s list. At press time, REP continued to battle the resistance at $20.5, with two strong support levels at $18.3 and $17.5.
The Bollinger Bands expanded dramatically in the last 24-hours, highlighting REP’s increased price volatility. The MACD indicator also looked bullish as the MACD line continued to hover above the Signal line.