Jump to content

Biggest Movers: BNB Snaps Losing Streak, Surging Back Above $240


roadrunner

Recommended Posts

BNB snaps losing streak, surging back above $240

BNB snapped a four-day losing streak on Tuesday, as traders moved to buy the recent dip in price. The native token of Binance fell to a six-month low to start the week, following recent sentiment surrounding the exchange. XRP also rebounded today, hitting a multi-month high.

BNB

BNB rebounded from a recent losing streak on Tuesday, as bulls rushed in to buy the recent dip in price.

After a low of $220.60 on Monday, BNB/USD climbed to a peak of $245.64 earlier in today’s session.

Tuesday’s rally sees the token move away from yesterday’s bottom, which was the lowest point price had hit since December 17.

Despite today’s rally, price is still in oversold territory, with the relative strength index (RSI) below the 30.00 mark.

At the time of writing, the index is tracking at 24.58, which is marginally above a ceiling at 24.00.

BNB is now trading at $241.98, which is close to a support point of $242.00.

XRP

Another notable gainer on Tuesday has been XRP, formerly ripple, which moved to a multi-month high.

XRP/USD raced to an intraday high of $0.5614 earlier in the day, which comes less than 24 hours after price bottomed out at $0.5139.

As a result of today’s surge, the price of XRP spiked to its highest point since March 28, when it peaked at $0.5848.

Looking at the chart, earlier momentum has since eased, with the token now trading at $0.5326.

Overall, it appears that this occurred as bulls were unable to sustain a breakout of the $0.5490 level.

The RSI is currently hovering close to a resistance level of 58.00, which is another key component stopping price from climbing further.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect xrp to move past the $0.5848 level this month? Let us know your thoughts in the comments.

View the full article

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...