Binance Coin shot up by 6.1% and sustained itself above its multi-week low of $386.83. BAT was eyeing its immediate resistance of $0.880 after gaining by 9.3% in 24 hours.
Dogecoin, despite noting a 6% hike, pictured mixed trading signals on the charts.
Binance Coin [BNB]
BNB/USD, TradingView
Binance Coin recovered by 6.1% over the last 24 hours. The altcoin was trading at $416.77 and it managed to trade above its multi-week low of $386.83. Immediate resistance stood at $433.54, moving above which would mean that BNB was priced above its one week low of $460.42. It is likely that BNB could retest its multi-month high of $517.02.
BNB’s technicals displayed mixed trading signals. MACD’s red histograms receded and approached a bullish crossover. Awesome Oscillator flashed green signal bars.
In contrast, BNB’s price’s remained below the four-hour 20-SMA, implying that the momentum was in favor of the sellers. In accordance with the same, the Relative Strength Index was below the 50-mark, indicating weakness in buying pressure.
If buying pressure continues to remain low, BNB would dip to $386.83.
Basic Attention Token [BAT]
BAT/USD, TradingView
BAT hiked by 9.3% in 24 hours and it was trading at $0.815. The immediate resistance lay at $0.880 and then, at the multi-month high of $0.981. Key indicators flashed signs of revival in the market.
Red histograms receded and pictured a green histogram. Awesome Oscillator demonstrated green signal bars in an indication of upward price action. Chaikin Money Flow noted appreciating capital inflows and remained above the mid-line.
If BAT loses its press time momentum, the price could fall to the two-week low of $0.734 and then trade near its one-month low of $0.661.
Dogecoin [DOGE]
DOGE/USD, TradingView
DOGE reversed its recent losses by 6% and was trading at $0.255. Although the price noted a recovery, the altcoin’s candlesticks remained below its four-hour 20-SMA – A reading that suggested price momentum in favor of sellers.
Similarly, the Relative Strength Index flashed a reading of 40, indicating that buying strength was low. Parabolic SAR also depicted a downtrend with dotted lines assembled above the candlesticks.
If DOGE continues to witness profit-taking, the immediate support for the coin will stand at $0.240.
MACD, however, displayed receding red histograms and was approaching a bullish crossover.
In the event of the bullish thesis holding up, the immediate resistance for DOGE stood at $0.273. Toppling the mentioned price ceiling would elevate the altcoin’s prices higher than its one-week low price of $0.314. If DOGE manages to sustain itself over $0.314, then it could revisit the multi-month high price level of $0.347.
