According to the analysis of CoinNess.com analyst, BNB price dropped down, which was affected by the hack incident. The decrease in the -issued coin was up to 11.9%. From a technical point of view, its price between 19.99 USDT and 19.41 USDT is in the intersection of the previous breakthrough level and the 55-day moving average (MA), which possesses a strong support strength. If the daily MA of BNB is maintained above this region, the coin is able to look for opportunities to rebound in the future.
The incident occurred on May 8 (UTC) also affected the price to some extent. On the 30-minute chart, the bullish trend of the price is relatively weak. However, judging from the 4-hour and daily chart, the trend of is still in a normal high-level correction pattern.
From the perspective of ’s overall market share, the current has accounted for 56.08% of the total market share. It is only 10% higher than the high point of 2018, while the proportion of other major in the market has been on the decline. This divergence in market cap illustrates two facts as follows:
1. The market highly recognizes the investment value of ;
2. There are very few hot spots in the market, and the mainstream which can be invested or hyped are relatively limited.
Furthermore, according to the research reported disclosed by BlockVC, sees strong pressure between $6,300 and $6,500.
From the perspective of technical analysis, the range between $6,300 and $6,500 is also the price range for ’s long-term sideways in the second half of last year, 2018. After the price breached the range, it became an area to “hold up” investments. In general, the long-term sideways usually shows a very strong resistance effect, which requires multiple strikes to be broken.
Published at Wed, 08 May 2019 05:02:36 +0000
