Binance Coin, Chainlink Price Analysis – July 4
BTC’s 4.88% increase over the last 24 hours reflects in the altcoin’s prices as usual. Most alternative coins saw recoveries after the late June losses. Multiple digital assets traded in a limited range after that as the market saw low volatility. Binance Coin witnessed significant rises since last week, while Chainlink registered increased capital inflows. For now, bulls seem to dominate the entire crypto market. Let us find out what the altcoin market has had since yesterday.
Binance Coin
Firstly, the SEC filed complaints against the Binance crypto exchange on criminal charges earlier on the week. Also, the Cayman Islands financial regulators opened an investigation against the platform. Binance Coin seems not bothered by the negativity, gaining over 6.3% in the last 24 hours and 9.4% in a week.
Keep in mind that BNB has been hovering between the $252 support and $317 resistance levels since the June 21 plunge that saw the altcoin breaching the $317 crucial support. While writing this content, Binance Coin trades in green, valuing $305.
The Awesome Oscillator indicates green bars suggesting a bullish move. Over yesterday, the RSI crossed to the bullish zone due to a sudden buying pressure increase.
Chainlink (LINK) had its daily trading volume dropping by 3.80%, even after its value surged by 3.3% from yesterday. The altcoin saw its price fluctuations confined in the range from $20.5 to $15.9 since last week. While writing this, LINK trades at $18.8. Although the asset saw increases since yesterday, it remains 64.5% down from its record upticks in May.
The indicators line fluctuated over the signal line, showing a bullish outlook on the MACD. According to the histogram indicators, the market has a bullish attitude at the moment. On the other hand, Parabolic SAR’s line has been beneath the candles since June 2. While publishing this content, LINK’s price denotes a bullish attitude.
However, cash outflows seem too superior to inflows, as LINK Money Flow switched beneath the equilibrium and maintains near the bearish zone for now.
The crypto market indicates bulls’ dominance at the moment. However, if you want to invest, beware of the associated trading risks.
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