Mathisen Marketing

Your Marketing Blog

BNB’s price and its metrics have an interesting tale for traders

BNB’s price and its metrics have an interesting tale for traders

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

BNB has been one of the best rising cryptos in terms of market cap this week. Alt posted a 5% weekly gain.

Well, the growth also created excitement in the crypto community, as BNB was among the top five cryptos in terms of number of searches, according to LunarCrush.

Despite outperforming others, at the time of writing, BNB was down 1.2% from yesterday (September 25) to trade at $273.53 for a market capitalization of $44,243,914,876.

Interestingly, BNB also entered the list of best cryptos with the uptrend of the BTC pair. Let’s take a look at the metrics to see what might be in store for BNB holders.

What cooking

These developments look promising, and several of BNB’s on-chain metrics are also registering interesting movements.

For example, BNB’s MVRV ratio increased compared to last week. This is a good sign as it increases the possibility of further upside.

In addition, the volume of BNB remained stable, which reduced the possibility of sudden price drops.

Source: Santiment

Nevertheless, not all metrics were on BNB’s side. Daily active addresses have been steadily decreasing over the past month, which is not a positive signal as it suggests that fewer users are actively trading in the ecosystem.

Also, despite BNB being listed in LunarCrush’s top 5 cryptos, BNB’s social volume also decreased. Thus suggesting that investors are less interested in the token.

Source: Santiment

More than that, Messarin map revealed a drop in BNB volatility, which may limit the coin’s upside in the short term.

I’m looking forward to

Contrary to several negative indicators, BNB’s daily chart painted a bullish picture as several market indicators supported the possibility of a move to the north.

The Relative Strength Index (RSI) and Chaik’s Money Flow (CMF) are registering gains, suggesting a possible upside in the coming days.

MACD findings revealed that after a long battle between bulls and bears, the former seemed to gain the upper hand as a bullish crossover was registered.

Additionally, the Bollinger Bands indicated that the BNB price was in a bullish zone, further increasing the possibility of a breakout.

Source: TradingView



Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • FTX New CEO John Ray III Criticized by Bahamas Government

    FTX New CEO John Ray III Criticized by Bahamas Government

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Exchange news The battle over what to do with FTX’s assets has intensified recently. FTX filed for bankruptcy on November 11. The Bahamian government has criticized new FTX CEO John J. Ray III for his role in imposing restrictions on […]

    Read More

  • Staggering $2,800,000,000 in Bitcoin (BTC) Has Exited Crypto Exchanges in Just One Month: Glassnode

    Staggering $2,800,000,000 in Bitcoin (BTC) Has Exited Crypto Exchanges in Just One Month: Glassnode

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Leading analytics firm Glassnode reveals that crypto exchanges are witnessing a massive foreclosure of Bitcoin as BTC holders take the initiative to hold their coins themselves. According to Glassnode’s Bitcoin exchange net position change meter, which tracks the 30-day supply […]

    Read More

  • WEMIX Delisting: South Korean Crypto Exchange Upbit Accused of Instigating Token Removal

    WEMIX Delisting: South Korean Crypto Exchange Upbit Accused of Instigating Token Removal

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase According to Wemade CEO Henry Chang, the South Korean cryptocurrency exchange Upbit was behind the decision of the Digital Asset Exchange Joint Consultative Body (DAXA) when WEMIX was delisted. Wemade’s CEO accused Upbit of applying different standards and not providing […]

    Read More