Today we have selected two tokens with high trading volume from the tokens listed on Binance for a brief analysis. They are AKRO and BNT.
BNT has experienced more than a year of fluctuation, and the price has always remained below the red line. Recently the price rose, approaching the red line. Moreover, the trading volume was significantly greater than the previous average level, and the volatility increased. But when the price approaches the red line, the bearish power increases clearly. The previous gains was almost covered by the next red candle. These candles was accompanied by upward pin-bars. Even if a long green candle appeared yesterday, it is still possible for a long red candle to form and cover it today. BNT maintains fluctuation on a large scale.
Conclusion: Mostly fluctuation. While the bulls have kept the price close to the highs, the strengthening of the bears is significantly . The possibility of a direct drop is low. So we draw this conclusion. We set resistance level at 0.63 and support level at 0.41.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
BNT has experienced more than a year of fluctuation, and the price has always remained below the red line. Recently the price rose, approaching the red line. Moreover, the trading volume was significantly greater than the previous average level, and the volatility increased. But when the price approaches the red line, the bearish power increases clearly. The previous gains was almost covered by the next red candle. These candles was accompanied by upward pin-bars. Even if a long green candle appeared yesterday, it is still possible for a long red candle to form and cover it today. BNT maintains fluctuation on a large scale.
Conclusion: Mostly fluctuation. While the bulls have kept the price close to the highs, the strengthening of the bears is significantly . The possibility of a direct drop is low. So we draw this conclusion. We set resistance level at 0.63 and support level at 0.41.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
