BNB Rallies to 5-Month Excessive on Monday – Market Updates Bitcoin Information

Bitcoin News


Binance coin rose to a five-month excessive on Monday, as cryptocurrency costs continued to commerce greater. The token rose to its highest level since mid-Could, extending current good points within the course of. Avalanche was additionally within the inexperienced, climbing to a six-week excessive throughout at present’s session.

Binance Coin (BNB)

Binance coin (BNB) rose to a five-month excessive to start out the week, as cryptocurrency markets surged on Monday.

BNB/USD moved to a peak of $336.52 earlier at present, which comes lower than a day after buying and selling at a low of $307.37.

Monday’s rise in worth sees the token hit its highest level since Could 9, when the coin was buying and selling at $359.

BNB/USD – Day by day Chart

General, BNB has now prolonged its current bull run, with costs transferring greater for a fourth consecutive day.

Regardless of current hacks on a blockchain linked to Binance, its native token stays unscathed, and has now risen by as a lot as $100 within the final ten days.

Because of this, the 14-day relative energy index (RSI) has risen to overbought territory, and is now monitoring at its highest level since final April.

Avalanche (AVAX)

One other notable mover in at present’s session was avalanche (AVAX), which rebounded following a risky weekend.

Following yesterday’s low of $17.96, AVAX/USD was capable of climb to a excessive of $19.71 on Monday.

At present’s transfer got here because the token moved above its current resistance of $18.50, hitting its highest level since mid-September within the course of.

AVAX/USD – Day by day Chart

Trying on the chart, the RSI for AVAX is at present monitoring at 68.49, which is just below a ceiling of 70.00.

That is the strongest level the index has reached since early August, and can seemingly be the most important impediment stopping the token from additional surges.

To be able to transfer above $20.00, bulls might want to first be sure that the RSI strikes nicely previous this upcoming wall.

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May we see avalanche hit $20.00 forward of Wednesday’s FOMC assembly? Tell us your ideas within the feedback.

Eliman Dambell

Eliman brings an eclectic perspective to market evaluation, he was beforehand a brokerage director and retail buying and selling educator. Presently, he acts as a commentator throughout numerous asset lessons, together with Crypto, Shares and FX.

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