Binance Coin News: In the cryptocurrency market, big daily gains were observed with sharp exits on altcoin charts today. This created a somewhat optimistic picture for investors. Binance Coin appeared ready to test the $290 resistance level as well as meeting capital inflows in the market. Cosmos (ATOM) has signaled bullish amid an increase in buying pressure. Finally, VET showed an upward trend in its price but also brought with it the possibility of high volatility in the market.
Binance Coin (BNB)
Binance Coin headed upwards overnight, recording a 6.6% increase in value. At the time of this writing, BNB is trading at $290.31. It looks like it could soon take over the bullish momentum with a steady increase in value. Key support and resistance levels for BNB are $260 and $290, respectively.
BNB has traded between $290 and $269 with strong volatility over the past 24 hours. However, BNB prepared to test the $290 resistance level. The departure of Bollinger Bands also means that BNB is bullish.
As the Chaikin Money Flow headed north, capital inflows accelerated and then declined slightly again. Unfortunately, no significant confirmation has yet been received for the recovery of BNB.
Cosmos (ATOM), just like other altcoins, has had a downward price curve due to the constant price drop in the cryptocurrency market. The altcoin is priced at $10.05. However, thanks to some recovery, it was observed that the market value increased by 11.04% on the charts.
As noted by the Relative Strength Index at the time of this writing, buyers seem to be gaining dominance over sellers in the market. Demand increases as buyers return to the market, which could push the price higher. In the early hours of July 21, blinking bullish signals can be observed with the green histogram of the MACD.
VET value has slumped below the $0.062 support level due to the recent decline in the cryptocurrency market. However, it gained 6.5%, with a slight rise in just one night. At the time of writing, VeChain is trading at $0.067.
If VET fails to sustain this rise, the altcoin may return to the $0.580 support level.
He noted that there is an uptrend in price as dotted markings are observed below the candles, according to The Parabolic SAR. It looks like VET could record a period of high volatility as the Squeeze Momentum Indicator offers a freedom and a short-circuit opportunity.
As the Relative Strength Index depicts a northward movement, the pressure from buyers in the market has regained its strength, which it had lost with the rise in price. However, at the time of writing this article, there is a slight decrease in the number of buyers.