Binance Coin, Monero, Algorand Price Analysis: 07 March


Binance Coin targeted a rise above the $240 resistance on the back of bullish indicators. Monero battled to retake the 38.2% Fibonacci level from the bears. Finally, ALGO’s latest attempt to break above $1.19 resistance was boosted by healthy capital inflows.

Binance Coin [BNB]

Source: BNB/USD, TradingView

The last 24 hours saw Binance Coin rise by 4% as the price attempted to flip a key resistance level at $240. The indicators flashed a bullish signal at the time of writing and suggested that BNB could be due for additional gains. The MACD line rose above the signal line, while the histogram noted some bullish momentum in the market. The Relative Strength Index pointed north from the 60-mark.

The next resistance points resided at $257.6 and $303.8. However, a drop in trading volumes and muted buying activity could form a roadblock for the bulls over the coming sessions.

Monero [XMR]

Source: XMR/USD, TradingView

The range between the 23.6% and 38.2% retracement levels formed a good price oscillation as both sides battled for control of the Monero market. Even though the bulls broke above aforementioned channel, the bears were swift to reject the northbound move. At the time of writing, the buyers looked to retake the 38.2% resistance level once more, backed…



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