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Binance Coin {BNB} fluctuates near $25 after being a favorite of investors for several months


Binance Coin is presently ranked at #7 in the market after Tether overtook it. The price declined slightly, at a rate of 0.13% in the course of the past 24-hours. The trading volume recorded is $187.053 million, while the supply has 155,536,713 BNB coins in play. As of this moment, BNB is priced at $25.39. The total market cap of Binance Coin is $3.949 billion.

According to the data [for the BNC/USD pair on tradingview] the daily RSI [for 10 periods] is at 31.04 and is well on the way to reach oversold territory. The peaks for the Awesome Oscillator have been brown for 5 days straight [they lie below the zero line]. The MACD line has been steadily heading beneath the signal for 12 days.

The hack had undoubtedly contributed to the loss in terms of value in recent times. A short while ago, a dusting attack had affected scores of Litecoin addresses [though this attack isn’t too malicious, it is still tantamount to blackmail]. New buyers are necessary for Binance Coin to climb yet again. Changpeng Zhao needs to bring in better plans for the leading exchange in the world.

Even though most analysts proclaim that crypt-winter has ended, the market is still reeling due to high levels of volatility. This shows that readings are not always accurate, especially when we’re dealing with cryptocurrencies. Bitcoin itself is still trailing in the red zone, but the dominance rate has risen marginally.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.