The cryptocurrency market looked somewhat optimistic today as major players and industry altcoins recorded sharp daily gains on their charts.
Binance Coin appeared to be ready to test the $ 290 resistance level and also welcomed capital inflows back into the market. ATOM gave a bullish signal with increasing buying pressure. Finally, VET showed an upward trend in its price, but this was also accompanied by the possibility of high market volatility.
Binance Coin [BNB]
Binance Coin rallied north overnight, recording a 6.6% rise in price. The alt was valued at $ 280.31 at time of publication, and given the steady rise in value, bullish momentum could soon prevail. Key support and resistance levels for BNB at its price level at the time of publication were $ 260 and $ 290, respectively.
BNB has traded in a high volatility range of $ 290 to $ 269 in the past 24 hours. However, at press time, BNB was determined to test the $ 290 resistance level. IN Bollinger Bands also diverge, which means increased volatility.
Capital inflows also skyrocketed as Chaikin’s cash flow headed north before diving a little again. Alas, the recovery of BNB is not yet significant. Therefore, it would be an exaggeration to say that the coin has already entered the bullish path. IN Medium directivity index below 40, indicating a weakening trend.
ATOM, like other altcoins, has also failed due to continuous price drops in the broader crypto market. At press time, the altcoin was valued at $ 10.05, however its market cap is up 11.04% on the charts thanks to some recovery.
Buyers seemed to dominate sellers in the market, as evidenced by Relative Strength Index, at the time of writing. As buyers returned to the market, demand increased, and this could push the price up even more. In the early morning of July 21st, a bullish cross was seen when MACD flashing bullish signals with its green histogram.
In support of the above statement Awesome oscillator The photo also shows green signal bars – a sign of bullish market sentiment.
The VET price fell below its support level of $ 0.062 due to the latest downturn in the cryptocurrency market. However, it rose slightly overnight, providing a 6.5% increase in value. At the time of publication, the price of VET was $ 0.061 with a market capitalization of $ 4.08 billion.
In the event that VET fails to maintain the aforementioned growth, the cryptocurrency will break through its support level of $ 0.580, and if the bulls regain strength, the key resistance levels to test will be $ 0.062 and $ 0.668.
IN Parabolic SAR’s the reading marked an uptrend in price as the dotted markers were seen below the candles. VET can register a period of high volatility as Squeeze Momentum Indicator flashed a release of compression and the possibility of a short circuit.
Buyer’s pressure in the market regained lost strength with an uptrend in price as Relative Strength Index presented the movement to the north. However, at the time of writing, the number of buyers has decreased slightly.