The crypto market has seen renewed bullish momentum as Bitcoin surged on the charts to establish new all-time highs. At the time of writing, Bitcoin has been trading at $57582 with a 24-hour trading volume of $56.2 billion.
Source: CoinStats
Interestingly, with the king coin north-bound on the charts, many of the market’s altcoins such as Binance Coin and SushiSwap also saw their price appreciating during the course of the past few days.
Binance Coin [BNB]
Source: BNB/USD, TradingView
Binance Coin has been trading at $293.2 with a market capitalization of over $45 billion at the time of writing. During the course of the past week, the coin has seen its price rise by over 124 percent. After the price surged on 19th Feb, the coin has continued to test the resistance around the $360 price range. If the coin fails to breach this rang, then it may soon head towards its support at $237.
The EMA ribbons have settled close to the $160 price range and if the first support fails, BNB may borrow support from the EMA ribbons in a bid to stabilize its price. However, the MACD indicator signals a scenario in which the bulls will prevail after having witnessed a bullish crossover.
SushiSwap [SUSHI]
Source: SUSHI/USD, TradingView
SushiSwap’s price rose by over 13 percent in the past week and currently trades at $17.8 with a market cap of $2.2 billion. Despite the gains recorded in the past week, from the long-term perspective, the coin has remained highly range-bound between the resistance at $20.3 and support at $12.3.
The Bollinger Bands continue to contract to indicate the low volatility level in the coin’s price action. The MACD indicator saw its signal line go past the MACD line as it noted a bearish crossover.
Basic Attention Token [BAT]
Source: BAT/USD, TradingView
BAT’s price has also been trading sideways in the past week and failed to register any gains in the past week. At press time, BAT trades at $0.59 and has witnessed substantial resistance around the $0.69 price level. If the coin were to see a downtrend materialize then the price may need the help of supports at $0.52 and $0.40.
The technical indicators highlight a trend reversal in BAT’s price action. The MACD indicator is on the verge of a bearish crossover while the RSI indicator is now moving away from the overbought zone but may head back into it if the buyers continue to dominate the market.
