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Trading Signals

Mixed sentiment leads BNB cryptocurrency to trade sideways; establishes tight $327.62 to $329.51 range

15 April 2023

BNBUSD

Without a clear-cut direction, BNB is trading around $328.5 and ranging between $327.62 and $329.51.

As the day gets underway, chart analysis suggests Binance Coin is approaching key support, around $5.74 away from $322.77. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-focused traders would be interested to note that investors are seeking long positions as BNB price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, BNB's upper Bollinger Band® is at $327.69, suggesting that a downward move may follow.

Notwithstanding BNB's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Other markets show mixed performance as FTX Token rallies 9.54% to trade around $1.36. EOS retreats 1.12% to trade around $1.24. Cardano closed at $0.433 (down 0.98%).

Binance Coin has managed to gain 34.55% so far this year despite trading at lows around $196.72 previously. Binance Coin is currently trading with a market cap of 51.20 billion with an average daily volume of 565.17 million.

Market Summary

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ETH set for weak finish today; down 1.59% to $1,875 with 4 hours before close

Ether cryptocurrency trades up $15.34, approximately 0.8% higher going into tomorrow

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

Passive Asia-Pacific markets defy bearish US sentiment

Mixed sentiment leads Cardano cryptocurrency to trade sideways; establishes tight $0.379 to $0.383 range

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