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Today’s topics:
- BinanceCoin (BNB): Technical analysis
- TWT: Approaching resistance level
- Coins with Bollinger Band breakout — Above
- GMX, dYdX — on-chain data insights
- Breaking news & crypto events
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Trade setup: Bounced off of $260 support (big volume) and broke above $300. Price could resume uptrend and revisit $340. (set a price alert).
Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance::Nearest Support Zone is $260, then $200. The nearest Resistance Zone is $300, then $340.
When price crosses above the Bollinger Band, that can indicate a bullish price breakout and a start or continuation of an uptrend.
Prices typically stay within the bands 90% of the time, so a breakout is a significant event.
Bollinger bands indicate levels of price volatility. They widen when volatility increases and narrow when volatility decreases.
Protocol Revenue (PR) is share of fees that goes only to the protocol’s treasury or directly to its tokenholders through burn mechanism, which is similar to a stock buyback because it decreases the amount of tokens in circulation.
Breaking news:
New listings:
- 3/12/2022: BKEX lists Popcoin (@Pop__Coin) with POP/USDT pair at 09:00 AM (UTC).
AMAs:
- 2/12/2022″Come chat with our COO and CTO at our bi-weekly Twitter space this Friday… at 1:00 PM ET…”STORJ (Storj)
- 2/12/2022″… Conversation + AMA to learn about Alpha Mainnet, what’s next for Vega & have your questions answered,” at 15:00 (GMT)….VEGA (Vega Protocol)
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