BusinessMarket Analysis

Price Analysis: Bitcoin Cash (BCH), Stellar (XLM), Binance Coin (BNB)

Overview:

  • BCH and BNB movement exhibit almost a flattish MACD along the axis, while XLM remains moderately volatile.
  • XLM also has a steeper falling trend in the past 24 hours as compared to BCH and BNB.
  • The month ends on a dull note as the coins have had almost a flattish movement at the onset of 31st August.

BCH:


The below Bitcoin Cash price chart is a data feed from Coinbase as on 31st August at 04:17 UTC.

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Tracing 5-minute movement of the coin in past 24 hours, we see that Bitcoin Cash has bluntly dipped below $300 and broke its major support near $290, $285 and $280 as well. Yesterday the coin was trading at $282.96 just near to its immediate support level of $280. Within no time on same day BCH price dipped as low as $270.26 by 4.48%. It tries to consolidate the momentum and rose beyond $280 at $283.82 by 4.83%. Unable to hold, BCH fell and just at the onset the value was again below $280 at $277.33. Currently it is trading at $279.06 slightly below its major support area around $280 for a bullish crossover.

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The current trading Bitcoin Cash price is unable to find support from any short-term moving averages and is notably lower by 2.90%, 5.41% and 5.36% from 5-day SMA, 50-day SMA and 10-day EMA.

The MACD of BCH has maintained an almost linear motion along the axis but with a bearish crossover as signal line overpowers the MACD line. While RSI remains slightly above 30 or the oversold region.


XLM:


The below Stellar Lumens price chart is a data feed from Coinbase as on 31st August at 04:15 UTC.

Stellar Lumens’ 24-hour movement has been moderately volatile. The recent dip has taken XLM price to trade around $0.060 on 29th August. Yesterday, XLM was trading around $0.062 in initial hours of the day. While approaching midday, it rose marginally by 1.61% and got traded at $0.063. Within no time it again slipped to trade around $0.0611 by 3.62% and currently trades around similar price area only.

The current trading price of XLM is 7.57%, 6.15% and 20.77% less than the 10-day SMA, 10-day EMA and 50-day SMA.

The MACD manifests moderate volatility in the coin with a bearish crossover and RSI slightly below 50 showing no extremities in overbought or oversold region.

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BNB Coin:

The below BNB price chart is a data feed from Binance as on 31st August at 04:28 UTC.

Trading under the selling pressure, BNB coin has recorded lowest dip around $21 testing support near $20. Binance Coin has shown its immense potential since the start of the year until now when it was trading around $6 and topped as high as $39 exhibiting 6.5X growth. The recent dip has shaken entire crypto market and so is BNB price affected as well but previous growth is a resemblance of the comeback it can have. Yesterday, Binance coin price was $21.9 in initial hours of trading. Around 10:00 UTC it grew by 2.73% to trade around $22.57. Later, BNB has been oscillating within the said price areas only and is currently trading at $22.20.

The current trading price of Binance Coin is 10.30% 8.60% and 20.25% less than the 10-day SMA, 10-day EMA and 50-day SMA.

The MACD is appearing flattish since the start of the day today, with MACD line and Signal line having a colliding movement, while remains slightly below 50.


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