Binance Coin, Waves, Fantom Price Analysis – March 16

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Binance Coin (BNB) saw price surges within the previous 24 hours as Bitcoin recorded an upward move. Bitcoin rallied from the $38K level to near $42K before retracing towards the $39K mark once more. However, bulls stepped up again, taking Bitcoin towards $40,379.43 at this publication. Most assets in the altcoin market flew higher. Fantome revived from the latest lows but lacked the momentum to conquer its bearish structure.

Binance Coin (BNB)

Binance Coin used the $374 – $380 range as its supply territory over the previous week. A massive hourly session had the alternative coin climbing towards $382, but the surge saw a correction in the following hours. While publishing this content, BNB trades at $377.53. Moreover, the alt rides bullish waves and would likely climb past the day’s high.

Meanwhile, the long-term trend remained downward, and BNB tested the $362 region many times as its foothold. Weakness might see this support breaking in the coming weeks or days. The hourly chart shows the Relative Strength Index and the Awesome Oscillator (AO) hovering around a neutral region after volatility within recent hours.

Fantom (FTM)

$1.16 has served as Fantom’s demand region last week. However, the alternative coin decisively broke the level over a previous couple of days. However, near-term surges by BTC had FTM climbing back past the $1.16 mark, retesting the $1.14 zone as support.

That region translated to a lucrative risk-to-reward area to go long on Fantom, with the profit-booking area staying at $1.22 – $1.24. The long-term trend remained bearish. Therefore Fantom will hardly see a rally at the moment. The Chaikin Money Flow stood at +0.03, whereas the MACD created a bearish cross past the zero line.

Waves (WAVES)

Analysts plotted the FIB retracement area based on WAVE’s price actions to $31 from $16.73. A previous couple of hours have noticed a massive increase in demand, reflected by the surge in on-balance volume. That shows that WAVES might witness an upward rally in the upcoming days. $37 and $34 remain profit-taking levels to the upside. The hourly Relative Strength Index stayed in the overbought area, which didn’t imply a potential pullback.


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