Binance Coin, VeChain, Terra Price Analysis: August 28
Major cryptocurrencies have recovered from their recent declines, and many altcoins have represented similar price action. However, some altcoins, despite the logging gains, have shown signs of price reversals.
Binance Coin rose 2%, although buying force declined as it aimed for the floor price of $ 460.42. VeChain gained 5.8% and moved closer to its resistance mark of $ 0.127 while pointing to lower prices ahead. Finally, LUNA posted a gain of 6.3% and attempted to retest its all-time high of $ 34.24.
Binance Coin (BNB)
Binance Coin has gained 2% in the past 24 hours and was priced at $ 487.13. If BNB does not lose its bullish momentum, the coin may retest the immediate resistance level of $ 517.02.
Technical data pointed to a reversal in price, which was accompanied by mixed signals on the four-hour chart. MACD have flashed red bars in the histogram, although they have retreated in recent trading sessions.
relative strength index remained above the midline, however, it threatened to fall below in subsequent trading sessions. Bollinger bands tightened, which indicated restricted price movement.
BNB could trade between $ 517.02 and $ 460.42 respectively. If it shows a downtrend, the support lines stood at $ 460.42 and $ 433.54.
The VET posted a gain of 5.8% in the past 24 hours and was trading at $ 0.124. The asset was considering its immediate cap price of $ 0.127, and by reversing it, it could retest $ 0.145.
The indicators, however, did not portray very bullish price action for VET. Even if the purchasing pressure has relatively recovered, the relative strength index could fall below the midline if prices hovered around the current range for more than a few sessions.
Awesome oscillator Flashing green warning bars. Bollinger bands the price movement related to the represented range and the expected prices could oscillate between $ 0.127 and $ 0.115 respectively. If buying pressure drops further, the support region for VET expects at $ 0.115 and $ 0.103.
LUNA appreciated 6.3% in the last day, with prices settling at $ 31.87. It might again, in an attempt to recoup its all-time high of $ 34.24 for the second time this month, only if the bullish force does not end.
The purchasing force has grown relative strength index stood near 60 and noted a slight rise. Green bars were seen on the MACD histogram, just after a bullish cross.
Awesome oscillator also observed green bars, until a red bar stopped there. In case LUNA heads down, followed by a trade in the red, support for the coin stood at $ 28.74 and $ 26.62 respectively.