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- 1 The technical parameters of the Bencoin price suggest the continuation of the uptrend over the daily time frame chart.
- 2 The BEN crypto asset is displaying bullish behavior as MACD is above the signal line and shows a bullish cross.
Ben coin asset plummeted by 13.34% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $4.3 Million and its trading volume is $413,169.21. There are 888 Billion BEN assets in circulation.
The Ben coin was trapped in a converging declining wedge and the price was respecting its bounds. Thereafter, the BEN crypto showed buyers activating again by the bullish hammer candle, signifying the importance of the level.
Therefore, the BEN crypto could reveal a strong sign of recovery as the price could rally and a breakout could occur from this crucial demand zone of around $0.000003570 on the chart.
The BEN crypto looks like is set for a breakout rally soon, as it gears up to crack the resistance level ahead and rocket to new peaks.
Furthermore, the asset was under the dynamic resistance of 20, and 50-Day EMA bands. The BEN crypto asset is exhibiting bullish strength and rising capacity as it holds above major 20-Day EMA and approaches to the 50-Day EMA, signifying bullishness.
The BEN crypto asset is displaying bullish behavior as MACD is above the signal line and shows a bullish cross. Meanwhile, MACD is at -0.000000440, the signal line is at -0.000000514, and the histogram is at 0.000000075.
The RSI is at 45 which is not near the 70 level yet, meaning that the BEN crypto asset is not facing much resistance and taking support from 14-SMA and displays that it can extend its gains.
Moreover, the price performance was poor in the last 3 months as it slipped 56.48%. However, the asset is showing bullish signs and shows that it has the potential to grow further. It has performed well in the past week by 6.35%, indicating a strong uptrend.
At the time of publishing, the Ben crypto experienced a surge of 3.72% in the last 24 hours, trading at $0.000004882.
Therefore, if the demand for the crypto rises, the asset price could bounce back from the current level. The next goal for the price is to reach $0.000006150.
However, if the crypto price fails to stay above the $0.000003570 level, it could decline further and make new lows.
Summary
BEN price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The Bencoin price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level. Moreover, Major reliable and trustworthy indicators like RSI, MACD, and EMAs suggest and portray bullish gestures regarding the Bencoin price.
Technical Levels
Support Levels: $0.000003570
Resistance Levels: $0.000006150
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
