The cryptocurrency market looked slightly bullish today as major players and the industry’s altcoins posted strong daily gains on their charts.
Binance Coin appeared poised to test the $ 290 resistance level while welcoming capital inflows into the market. ATOM triggered a bullish signal with mounting pressure to buy. Eventually, VET envisioned an upward trend in its price, but this was also accompanied by the possibility of high market volatility.
Binance coin [BNB]
Binance Coin moved north overnight, seeing its price rise 6.6%. At press time, it was priced at $ 280.31 and with continued appreciation, the upside momentum could soon get out of hand. The main support and resistance levels for NBBs at press time were $ 260 and $ 290, respectively.
The BNB has been trading between $ 290-269 for the past 24 hours, with a lot of volatility. However, at press time, the NBB was prepared to test the $ 290 resistance level. The Bollinger bands also diverged, which meant that volatility increased.
Capital inflows also shot up Chaikin money flow North before it dips slightly again. Unfortunately, the recovery of the NBB cannot yet be described as significant. Hence, it would be an exaggeration to say that the coin has already embarked on a bullish journey. The Average direction index was shown below 40, which indicates a weakening trend.
ATOM, like other altcoins, has been pushed down due to the incessant drop in prices in the broader crypto market. However, at press time, the altcoin was trading at $ 10.05 with its market cap rising 11.04% thanks to some rebound on the charts.
Buyers seemed to be gaining dominance over sellers in the market, as by that Relative Strength Index, at the time of writing. As buyers re-entered the market demand increased and this could push the price further north. A bullish transition was observed in the early hours of July 21st, with the MACD flashes bullish signals with its green histogram.
To support the above statement, Great oscillator Also pictured green signal bars – A sign of bullish sentiments in the market.
The price of VET has fallen below its support level of $ 0.062 due to the recent slump in the crypto market. However, it rose slightly overnight and secured an increase in value of 6.5%. At press time, the price for vocational training was $ 0.061 on a market cap of $ 4.08 billion.
If VET does not hold onto the above increase, crypto would break its support level of $ 0.580, and when the bulls regain strength, the main resistance levels to be tested would be $ 0.062 and $ 0.668, respectively.
The parabolic SARs While reading, an upward trend in price was noted as the dotted marks below the candles were observed. Vocational training could experience a period of high volatility as the Squeeze momentum indicator flashed a squeeze release and a shorting opportunity.
Pressure from buyers in the market has weakened again with the upward trend in prices as the Relative Strength Index imagined moving north. However, at the time of writing, the number of buyers had decreased slightly.