The impressive 24 -hour rallying rally of BNB highlights the growing force of the binance ecosystem in the midst of a wider optimism of the cryptography market.
The upper momentum of the token coincides with the Bitcoin approach to the new heights of all time and increased activity in the BNB channel, which recently recorded more than 8 million daily transactions and 2 million active wallet addresses.
The technical indicators remain optimistic for the BNB, with a strong support established at $ 682 and several tests of this level showing prolonged interests of the buyer despite a minor resistance around $ 684, according to the Technical Analysis Data model of Coindesk Research.
Strengths of technical analysis
- Price action has formed a clear rise trend with large volume peaks at 3:00 p.m. and 4:00 p.m. on May 21 (183k and 186k respectively).
- A solid volume support established around the $ 663 area at $ 670.
- The assets encountered resistance nearly $ 689.35 during 3:00 am on May 22 before a minor withdrawal.
- Support maintained at $ 679.08, suggesting a continuous upward dynamic.
- Notable volatility in the last hour with a significant increase in prices between 07: 35-07: 37, from $ 680.85 to $ 683.78 (increase of 0.43%).
- Multiple tests of $ 682.00 showing the buyer’s interests, with resistance around $ 683.90.
- The volume culminated during the period 07:37 with more than 7,190 units exchanged, confirming the strength of the ascending movement.
- The last minutes have shown consolidation around $ 682.28, suggesting a temporary balance after volatile exchange.
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