Binance Coin, Ontology, DigiByte Price Analysis: 23 November

Monday 23 November 2020, 10:43 PM AEST - 2 months ago

The Crypto Fear and Greed Index continued to underline the extreme greed in the market with a reading of 90, at press time. While Binance Coin registered a bearish divergence that could see the coin dip slightly on the charts, Ontologys trading volume was yet to catch up with its latest surge in price. Finally, DigiByte formed a bearish reversal pattern that could force the crypto-asset back down to the support level.

Binance Coin [BNB] PA-3-BNBUSDT-1.pngSource: BNB/USDT on TradingView

Binance Coin succeeded in flipping the $29-resistance level to support. Using the move from the swing low at $25.74 up to $31.12 to highlight some important levels of retracement for BNB, it can be observed that the 38.2% level enjoyed some confluence with the $29-support level.

Hence, the price could drop to $29.75, or even lower to $29 before another leg upwards.

Such a bearish divergence was indicative of a minor pullback and not a reversal of the uptrend, hence, BNB can be expected to record gains after seeing a dip in the coming hours.

Ontology [ONT] PA-3-ONTUSDT-1.pngSource: ONT/USDT on TradingView

Ontology found strong support around the $0.54-region. The Stochastic RSI dropped into the oversold territory to indicate that ONT was ready to climb north once again.

However, the recent trading volume has been lower than the figures a few days ago. Combined with a strong ONT surge, stronger trading volumes should have followed, but there appeared to be a disagreement between the price and volume.

The resistance at $0.57 or $0.61 could rebuff the bulls in the coming hours and force the ...

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