Bitcoin’s price managed to go past quite a few significant price levels in the past 24-hours and is now trading at $22,800. This bullishness translated well for many of the market’s altcoins, with the likes of Binance Coin, Dash, and Tezos all registering uptrends.
Binance Coin [BNB]
Binance Coin currently occupies the 10th spot on CoinMarketCap’s list and after witnessing a 6.23 percent hike in the past 24-hours was trading at $31.2. BNB has also registered a market cap of $4.5 billion and a 24-hour trading volume of $481 million. According to the 1-hour chart, BNB has encountered significant resistance at $31.5 price level and if the price were to see a dip, it is likely to stabilize around the $30 price level.
Bollinger Bands for BNB continue to widen, indicating increased levels of volatility. MACD indicator looks promising after having undergone a bullish crossover.
Tezos’ price has seen a 14 percent increase in the past week. At press time, the coin was being traded at $2.241 and wass moving in to breach resistance at $2.44. However, if the trend were to see a reversal, the coin may soon find itself heading toward the support at $2.31.
EMA ribbons have now settled below the coin’s current trading price and is likely to offer support. RSI looks bullish as it continues to remain within the overbought zone.
Akin to Tezos, Dash also saw a significant price rise in the past week. The coin is currently valued at $106.5 with a market cap of just over $1 billion. If the uptrend were to continue, Dash needs to overcome resistance at $108. However, if a trend reversal were to take place there are two strong supports at $102 and $97.
MACD indicator has just undergone a bearish crossover, indicating the likelihood of an upcoming price correction. RSI on the other hand continues to stay in the overbought zone.