Crypto News

BNB Rallies to 5-Month High on Monday – Market Updates Bitcoin News

Binance coin rose to a five-month excessive on Monday, as cryptocurrency costs continued to commerce increased. The token rose to its highest level since mid-May, extending current beneficial properties within the course of. Avalanche was additionally within the inexperienced, climbing to a six-week excessive throughout at this time’s session.

Binance Coin (BNB)

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

BNB/USD moved to a peak of $336.52 earlier at this time, 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 May 9, when the coin was buying and selling at $359.

BNB/USD – Daily Chart

Overall, BNB has now prolonged its current bull run, with costs shifting increased for a fourth consecutive day.

Despite 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.

As a results 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)

Another notable mover in at this time’s session was avalanche (AVAX), which rebounded following a risky weekend.

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

Today’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 – Daily Chart

Looking on the chart, the RSI for AVAX is at the moment monitoring at 68.49, which is slightly below a ceiling of 70.00.

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

In order to transfer above $20.00, bulls will want to first be certain that the RSI strikes nicely previous this upcoming wall.

Register your electronic mail right here to get weekly worth evaluation updates despatched to your inbox:

Could we see avalanche hit $20.00 forward of Wednesday’s FOMC meeting? Let us know your ideas within the feedback.

Eliman Dambell

Eliman brings an eclectic standpoint to market evaluation, he was beforehand a brokerage director and retail buying and selling educator. Currently, he acts as a commentator throughout varied asset courses, together with Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions solely. It will not be a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the company nor the writer is accountable, instantly or not directly, for any injury or loss triggered or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

Back to top button