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Price Analysis of Binance Coin (BNB) and Monero (XMR)

Binance Coin (BNB) has been profitable during the last seven days, maintaining its status as the world’s third-largest cryptocurrency with a market cap of $43,253,758,280. According to CoinMarketCap numbers, BNB gained more than 15.52 percent in seven days and is currently on an uptrend. In the short term, the BNB/USD pair will most likely continue to rise and smash through the $300 resistance mark.

Monero(XMR), the privacy coin, has fallen 1.19 percent in the last week and is now ranked 24th among cryptocurrencies, with a total market capitalization of $3,899,455,661. The bulls are currently small, and the short sides continue to dominate the market in the short term.

Monero(XMR), the privacy coin, has dropped 1.19 percent in the last week and is now ranked 24th among cryptocurrencies, with a total market capitalization of $3,899,455,661. The bulls are currently small, and the short sides continue to dominate the market in the short term, meaning that XMR could drop to a $200 support level.

Price Study of Binance Coin (BNB)

Binance Coin has begun a new round of growth after building a base above $210. On March 9, BNB broke through the $250 resistance barrier. Despite yesterday’s 5.18 percent decline, BNB is currently trading above the 9-day Moving Average line. The bulls are defending the $260 level of support.

On the daily candlestick chart of the BNB/USD, a main bullish trend line has developed, and the support level is around $250. On the plus side, the central resistance level remains about $300. If the price rises above this amount in the near term, it might reach its all-time high of $368.29.

A new downward correction could occur if BNB fails to move higher. The $260 level is the first big support. Near the trend line, the next big support level is placed. The bears can be able to drive the price down to about $210 if it breaks below the upward trend line.

The blue MACD line is approaching the yellow Signal line, suggesting that BNB is steadily reversing its bearish momentum. BNB/MACD USD’s is slowing down in the bearish region, signaling the likelihood of a bullish crossover.

Price Study of Monero (XMR)

Monero (XMR) is a cryptocurrency that focuses on anonymity. It was introduced in 2014. Monero attempted but failed to break through the resistance level of $230 on March 1 and 2, following the market correction in late February. As a result, a new round of bearish market started.

The blue K-line and the yellow D-line have turned downward and fused to form a bearish cross, making it impossible for the bulls to launch an upward breakout. The $230.80 level would be the first resistance zone for XMR to assess. If it can successfully break through this stage, XMR can enter its next uptrend, with bulls aiming to reclaim the all-time high of $288.88.

The 30-day Exponential Moving Average of $210.71 is the first degree of support. If the bulls struggle to hold this level, the bears will attempt to depress the price of XMR, pushing it to test the next support level.

The 30-day Exponential Moving Average of $210.71 is the first degree of support. If the bulls struggle to retain this amount, the bears will force the price of XMR lower, pushing it to test the next support level of $200.

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