Binance Coin, Monero, Compound Price Analysis: 25 November – AMBCrypto EnglishNovember 25, 2020
Bitcoin Dominance hit 62% after a bounce from 61.5% over the past 36 hours. While it is not a perfect metric, altcoins need this number to continue to drop to enjoy further gains. Compound showed a bearish divergence between buying volume and price, while Monero still had bullish momentum on its side. Binance Coin bulls would look to keep the price above $32, in order to spring toward $35 over the coming days.
Binance Coin [BNB]
The region of support at $32 can be expected to be defended by BNB bulls if the price drops toward it. The RSI showed an uptrend in progress and notable bullish momentum remained for BNB.
This could change over the coming hours, and a trading session close beneath $32.75 could be an early sign of more selling to come.
The price recently hit the 62% Fibonacci extension level and could be set for a drop in the coming days. But in the near-term, the losses were yet to begin as BNB traded sideways over the past couple of days.