BNB records another ATH above the $410 level and the coin is looking strong while not following Bitcoin so let’s check out the latest price analysis in our BNB news today.
The BNB holders have plenty of reasons to celebrate as the upwards momentum is not stopping and the bulls look ready to send the token prices to the moon with nothing in between them. The cryptocurrency closed on April 6 and BNB records another ATH at $411 with a 9% increase for the day which is not bad actually, considering the rest of the market is giving mixed signals with more downward corrections marked by the BTC general trend.
BNB broke the $400 zone but now the numbers is the new barrier that needs to be overcome in the stage of a price recovery. Generally, in the absence of previous references, the traders are focusing on the round numbers to set alerts. BNB started the day with a $368 mark which was a good sign as the previous day it went through a correction. The bullish breakout confirmed that the bulls are not done yet but the coin had posted a 5% drop which is keeping the analysts on the edge as the cryptocurrency was in overbought territory.
The Fib extension shows another possible rise to $454 before encountering another strong resistance and from there, the next frontier will be near $482. On the other hand, if the crypto loses strength and starts correcting lower, the same FIB retracement will place more support at the $368 area which will undo the growth made on April 6. This is often a good sign because it is not considered a major loss so the overall outlook looks good for the coin.
Bitcoin on the other hand has been struggling to break through the $60K barrier and the token hasn’t stopped growing at the same time. BTC looked like it was unstoppable and break all barriers that appeared on its way. But then, after surpassing $60K to mark an ATH of $61180, the cryptocurrency went tumbling down. In a 2-week correction, BTC managed to catch up and stabilize but it was not able to reestablish the whole of the bull run. BTC was trading sideways with lows of $56800 and highs around $60K.
The long-term outlook looks bullish and the cryptocurrency is inside the channel of strong institutional support promoted by Square, Microstrategy, and Tesla.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Credit: Source link