Binance Retreats to the 20 SMA at $ 120s, After Trying $ 150 Earlier
Binance surged higher today but is retreating back down now
Binance has been the outperformer in recent days. This crypto missed the surge in November and December, but started turning bullish in January, although gains were quite small compared to other cryptocurrencies, as we mentioned in our Binance forecast for 2021.
In the last few days though, it has been absolutely surging, climbing from around $ 65 by the middle of last week to $ 148 a few hours ago. It has appreciated around 250% during this time, which makes it the hottest and the most bullish cryptocurrency right now.
But, in the last couple of hours the price has returned back down, and it is trading at $ 123 at the moment. That’s where the 20 SMA (gray) stands on the H1 chart. Well, it has just pierced through that moving average, and now the price is at $ 117.
This crypto has turned extremely volatile. We might try to open a buy forex signal, but the situation has become very dangerous, so we will see if it will retreat closer to $ 100 where we will try to go long.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals