Crypto Updates
- A breakout for BNB to $680 was anticipated following the retest of the $534 lows.
- The consistent selling reflected in the OBV suggested that a bullish surge (above $720) would probably not occur soon.
In February, leading cryptocurrencies Bitcoin [BTC] and Ethereum [ETH] experienced theirmost significant declines in a decade.
This heightened anxiety throughout the market, with altcoins suffering greater losses than BTC overall.
The fluctuations on Monday indicated thatBinance Coin [BNB] wasless impacted compared to otheralts– BNB dropped 12.42% while ETH saw a 19.73% decline to their respective swing lows.
An analysis of HODL waves indicated there had been profit-taking activity as the exchange token reached $600 during the second half of 2024.
Over the last three months, these waves have shown some HODL behavior once more. Could this signal a recent upward trend for BNB?
Crypto Updates: BNB prepares to test the $625 resistance again
noscript >![]()
SOURCE:BNBUSDTONTRADINGVIEW
noscript >
SOURCE:BNBUSDTONTRADINGVIEW
BANBMAYHAVEEENLESSVOLATILEONMONDAYTHANETHEREUMBUTITHASBEENFAIRLYSTABLEOVERTHEPASTSIXWEEKS.
BANBDERSNEEDTOWATCHTHREEKEYLEVELS—THE$721RESISTANCE,$534SUPPORTANDTHE$620-$640ZONEINBETWEENTHATHASFUNCTIONEDASRESISTANCEANDSUPPORT.BIDIRECTIONALSWINGSACROSSTHISIMPORTANTSRLEVELHAVELESSENEDITSIMPORTANCEFROMDECEMBERANDJANUARY.PASTMONTH’SRSIHASREMAINEDBELOW50INDICATINGDOWNWARDMOMENTUMWASDOMINANT.THEOBVHASALSOSEENARETREAT.LOCALHIGHSAT$620AND$680ARECRUCIALRESISTANCES.YETCURRENTCIRCUMSTANCESINDICATEITSMOREPRUDENTTOTREATBNBASTRADINGWITHINARANGE.RATHERTHANA TRENDING ASSET.ABREAKOUTABOVE$620FOLLOWEDBYARETESTASSUPPORTCOULDBEAVALUABLEBUYINGOPPORTUNITY.Disclaimer:Theinformationprovideddoesnotconstitutefinancial,investment,tradingorotheradviceandrepresentsonlytheauthor’sopinion.
SOCIAL SHARE OPTIONS:
-
A
- A
- A
<ul/mvp.post.soc-wrap left relative=""
”
”
”
<ul classes mvp-social-mob-list left relative=''
LIST ITEM=
LIST ITEM=
LIST ITEM=
LIST ITEM=
LIST ITEM=A
Href=
http:
A
Href=
http:
A
Href=
http:
A
Href=
http:
href=/mailto:?subject=b nb out shines alts coins w ith ro bust eco system is breako ut t o next?
BODY I FOUND TH IS ARTICLE INTER EST ING AND THOUGHT OF SHARING IT WITH YOU CHECK IT OUT HTTPS AMBC RYPT O C OM
READ MORE
Read also - A
