Binance Coin News; China’s attempt to restrict crypto trading has increased price volatility throughout the week, but the impact has weighed on altcoins. At the time of writing, Bitcoin price was recovering by 7.5%, with most major altcoins trading on the plus side. For example, Binance Coin trading volume is up 110%, while MATIC still maintains the critical support level. Finally, Litecoin has seen a minor correction in the last 24 hours.
Binance Coin (BNB)
Binance Coin price rose 8.3% in 24 hours and was worth $288.95 at the time of writing. However, it is worth noting that BNB broke the $290 support level two days ago.
With further increases in prices, the token could potentially climb above the $290 level in the next few trading sessions.
Bollinger Bands continued to diverge on the charts as a sign of incoming price volatility. The Parabolic SAR pointed to a bullish uptrend as BNB’s price has appreciated in the past few trading sessions.
The Awesome Oscillator’s histogram points to bullish momentum on the charts.
MATIC has recorded mostly horizontal price movements on the chart since the beginning of June. Although it may have appreciated a little late, the coin’s valuation has dropped almost 27% in a week. Moreover, the altcoin managed to stay above the critical support level of $1.04 and was trading at $1.19 at the time of writing.
The coin’s evening price action has remained in the same range as on May 23 as a result of last month’s crypto crash. According to the previous patterns, the price may have a chance of consolidation.
The Relative Strength Index hung closer to the neutral zone, though selling pressure was observed to be higher than buying pressure at press time. The Bollinger Bands remained in line with very little divergence and the price can be expected to remain stable over the next few trading sessions.
Capital outflows continued to exceed capital inflows, according to Chaikin Money Flow.
At the time of writing, LTC is up 9.03% and was trading at $129.26. On its 4-hour trading chart, the coin showed signs of a corrective recovery.
LTC hit $119, its lowest level since May 23. If the bulls manage to push the price higher, the coin can be expected to find resistance at $132.
As the MACD indicator shows, after almost a week of projecting bearish momentum, bullish momentum emerged at print time. Awesome Oscillator suggested something similar.
Finally, Bollinger Bands highlighted an increase in price volatility.