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Biggest Movers: SOL Recovers From Recent Declines, BNB Extends Gains

Biggest Movers: SOL Recovers From Recent Declines, BNB Extends Gains

Solana continued to trade higher during Tuesday’s session, following a recent breakout below a support point of $20.00. Momentum in the market has begun to gradually pick up in recent days, ahead of Friday’s Federal Reserve Jackson Hole annual meeting. BNB remained in the green.

Solana (SOL)

Solana was one of Thursday’s notable movers, as price rose to a one-week high earlier in today’s session.

Following yesterday’s decline to a low of $20.66, SOL/USD rose to a high at $21.99 on Thursday.

As a result, the token hit its strongest level since last Thursday, when the price peaked at $23.41.

This recent run comes following a drop below a support point of $20.00, prompting bulls to move in and buy the weakness.

The surge also pushed the 14-day relative strength index (RSI) to a collision with a ceiling at 44.00.

At the time of writing, the index is tracking at 40.38, with earlier gains fading.

BNB

Similar to solana, BNB also jumped to a one-week high on Thursday, only two days after trading at a one-year low.

Bulls sent BNB/USD to a peak of $216.39 earlier in today’s session, after the price was at a bottom of $204.40 the day prior.

The native coin of cryptocurrency exchange , has now climbed higher for a third straight day, following recent bearish sentiment.

Looking at the chart, the RSI here has marginally broken out of a resistance zone at the 30.00 mark, and is currently tracking at 32.93.

Should momentum continue to move higher, the next visible point of resistance is at 37.00, and should this be reached, BNB will most certainly be trading beyond $220.00.

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Can BNB maintain this momentum through the weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/7N9drXB
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