As a seasoned analyst with over two decades of experience in the financial markets, I have seen bull runs and bear markets come and go. Today, I find myself analyzing the cryptocurrency landscape, focusing on Solana (SOL) and Binance Coin (BNB).
A new week has started with ongoing bulls’ dominance, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has risen by 3.82% over the last 24 hours.
Regardless of today’s increase, the Solana (SOL) price hasn’t surpassed yesterday’s highest point as yet. Consequently, if today’s trading session ends with a significant wick, it might give bullish traders an upper hand, potentially leading to a dip back towards the $225-$230 range.
SOL is trading at $243.32 at press time.
BNB/USD
Unlike SOL, the price of Binance Coin (BNB) has dropped by 0.67% since yesterday.
On the daily graph, the BNB rate appears to be gathering momentum for a potential future surge. The reduced activity from both buyers and sellers, as suggested by the decreasing trading volume, seems to support this observation.
In this case, sideways trading in the area of $610-$650 is the more likely scenario.
BNB is trading at $620.77 at press time.
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2024-11-18 19:02