Analyzing BNB’s Dependable General performance Throughout a Volatile 7 days

  • Nicely, nicely, properly! Superior information for BNB this 7 days!
  • BNB carries on to glow with its under-zero funding charge.

Hey there crypto lovers! Let us converse about the latest current market actions in the best 5 crypto property. Between them, Binance Coin [BNB] stands out for its resilience, showing the smallest decline in the final 7 days. Extraordinary, proper?

Irrespective of BNB’s small fall, the current market sentiment isn’t really all sunshine and rainbows.

BNB: Keeping potent amid the chaos

Our close friends at AMBCrypto did some digging on CoinMarketCap information and observed that BNB was the only a single in the top five to not have dipped in the past 7 days. Kudos to BNB!

In the meantime, Bitcoin [BTC] and Ethereum [ETH] were not as lucky, experiencing declines of 3% and 7%, respectively. BNB, on the other hand, observed a very small boost of less than 1% – way to go!

What is up with BNB’s rate?

Taking a peek at BNB’s selling price trend above the earlier 7 days, it looks very constant. No significant ups or downs going on there.

Binance price trend

Resource: TradingView

At present, BNB is hovering about $590, with a slight <1% increase. The Bollinger Band analysis hints at a period of calm, so no need to panic just yet.

The price isn’t jumping all over the place, which can be reassuring. But remember, this stability might give way to some excitement soon!

Looking at the Relative Strength Index (RSI), it’s pointing towards a bullish trend for BNB – keeping it positive! No major deviations seen so far.

Market sentiment tells a different story

Our investigation into BNB’s Funding Rate on Coinglass revealed a negative value, signaling a market dominated by sellers.

At around 0.0092% currently, with signs of a rise, the Funding Rate had dropped to a low of 0.0218% – meaning traders are betting on BNB’s price going down. Tough luck for the bulls!

Binance Funding RateBinance Funding Rate

Source: Coinglass

Seeing green in your portfolio? Look into the BNB Profit Calculator now!

On top of it all, the liquidation chart paints a grim picture for short positions, with around $143,000 being liquidated compared to long positions at $243,000. Watch out for those upward trends – they could spell trouble for the bearish traders!

Buckle up, folks! The crypto rollercoaster ride isn’t over yet.

Next: Why Bitcoin holders could need to wait a bit for a longer period for $70K

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