binance Today’s coin price analysis is very bullish, with the price rising to $1439 and then falling rapidly. But even if the bubble bursts binance The coin is still hovering around $828. That means most people who bought a day or he two days ago are still making big profits. But are the bulls already exhausted?
The overall cryptocurrency market is getting some pretty bearish turn-gains.the price of ethereum Down 2.54%. At the same time, Bitcoin fell 0.93%.Other altcoins, etc. ripple When Cardano also traded in the red, indicating a decline.
Nevertheless, Binance Coin certainly had a very interesting day today. Prices soared and skyrocketed. But that recent high was fairly short-lived. For now, the price has stabilized somewhat around $828, but it is not expected to continue beyond that.
Looking at the RSI, it is clear that the market is currently very overbought. The RSI is almost 84 with a very steep curve. MACD shows a similar pattern. So this bubble could definitely burst at any time. In that case, Binance Coin could stabilize around $600.
Binance Coin 24 hour price movement
The 24-hour price action of Binance coin has been very interesting. It has been trading within a range for a good part of the day, with the move up only occurring much later in the day. After rising to $1439, Binance Coin finally fell in the face of significant resistance from the bears, causing the candle wick to reverse.
This could have been seen as a sign of an impending downtrend that triggered the plunge. However, before setting a new resistance near $1,109, it bounced back up slightly before falling again and consolidating near $828.
But that brief moment binance coin price Analysis was already done. As both the RSI and MACD suggest, those still considering investing for short-term gains should be cautious. maybe not.
4 Hours of Binance Coin Price Analysis: Can Binance Coin Retrace Again?
The biggest question that investors have in mind right now is whether Binance Coin’s price analysis can bounce back to $1439 again in the short term. Well, given the fact that the bulls are already exhausted, it is unlikely.
The RSI on the 4-hour chart is also at 73, indicating that the market is still significantly overbought. So it’s not stable yet. At the same time, the MACD on the 4-hour chart has yet to catch up. Nevertheless, we already have a reverse candle wick pattern being created in red.
Binance Coin Price Analysis: Conclusion
Overall, Binance Coin has already risen and is set to fall again for a correction. The rally was short-lived, with resistance set at $1,439 after the bubble burst. At this point, investors should not take new positions for short-term returns.In the meantime you might want to know more cryptocurrency investment.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com accepts no liability for investments made based on information provided on this page. Independent research and/or consultation with a qualified professional is strongly recommended before making any investment decision.