Binance Coin, Aave, Coin Price Analysis: 08 November – AMBCrypto English

Binance Coin has been one of the few exchange tokens to have performed well over the past few weeks. While it did note a pullback on the charts, it was otherwise likely to continue the short-term uptrend it was on. Aave could drop a few percentage points more in value before another attempt at climbing past a stubborn level of resistance. Coin faced steady selling pressure and registered a stream of small losses almost daily.

Binance Coin [BNB]

Binance Coin, Aave, Coin Price Analysis: 08 November

Source: BNB/USDT on TradingView

Binance Coin noted a bearish divergence (orange) between the price and the momentum and dropped from $29.5 to wick down as low as $26.85. BNB’s correction also coincided with Ethereum’s drop from $462 to $430.

The Fibonacci Retracement tool was used for BNB’s move from $18 to $33.4 in early September to highlight some levels of importance for BNB in the coming days.

However, the RSI showed that BNB still maintained its uptrend as it did not dip significantly under the neutral 50-level. The price also registered a higher low