As a seasoned crypto investor with battle-scarred fingers from the 2017 bull run and the subsequent bear market, I find myself eyeing the green zones of CoinMarketCap with cautious optimism. The slight upticks in Solana (SOL) and Binance Coin (BNB) today are like a breath of fresh air after weeks of sideways trading.
The rates of most of the coins have come back to the green zone, according to CoinMarketCap.
SOL/USD
The price of Solana (SOL) has increased by 1.77% over the last day.
On the daily scale, Sol’s exchange rate is currently inside yesterday’s price range. Additionally, the trading volume continues to decrease, indicating that neither side appears eager for a significant price shift at this time.
All in all, ongoing consolidation in the zone of $160-$170 is the most likely scenario.
SOL is trading at $163.65 at press time.
BNB/USD
Binance Coin (BNB) has followed the growth of SOL, going up by 0.91%.
As an analyst, I find that the price action of BNB resembles Solana from a technical perspective. At present, there seems to be a balance between buyers and sellers, indicating a lack of significant momentum in either direction. This equilibrium suggests that any substantial moves may not occur imminently. Given this situation, it’s more likely we’ll see sideways trading within the range of $550-$560 for now.
BNB is trading at $558.79 at press time.
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2024-11-04 19:55