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Binance’s cryptocurrency is on the road to recovery after Elon Musk’s Twitter hijack
cryptocurrency end of the week market Most digital assets have broken local resistance levels without looking back at the rough mid-week, which could be called a ‘breakout day’.
Since Elon Musk took over Twitter, Binance’s BNB has been on a steady upward trend despite the problematic nature of the cryptocurrency market. Investors believe that the implementation of digital technology on the platform is only a matter of time.
Some experts assumed that Binance would be some kind of provider between Twitter and the crypto world. Cryptocurrency payments could actually become a payment option with the implementation of a new $8/month verification system. You could potentially receive $10,000 in earnings.
From a technical point of view, BNB It broke all the key technical resistance levels and even broke the August high of $335. BNB’s next resistance is around $400, acting as a psychological resistance.
The next technical resistance is $423, which correlates with BNB’s breakdown point. On April 5th, Binance’s cryptocurrency fell below the $400 threshold, marking the beginning of an accelerated downtrend that put the asset at levels trading before its rapid recovery.
A series of breakouts has not gone through an asset like XRP, even considering its high market capitalization. The cryptocurrency gained over 8% of its value in a matter of hours, breaking through local resistance levels and entering the top 10 most profitable assets in the market.
Whales are moving cryptocurrencies more actively than yesterday, according to on-chain data. Over the past few hours, the whale has been buying his XRP for undisclosed reasons, so the high trading volume may reflect increased whale activity.
Ripple’s legal success has been a major driver of XRP’s run in the market, but that’s most likely not the case today as no news about it emerged in the cryptocurrency media space. .
Despite the fact that Cardano typically avoids participating in market-wide rallies and moves in isolation, ADA’s performance today is similar to that seen with the aforementioned cryptocurrencies.
In the last 24 hours, ADA has broken out of the 50-day moving average line but has failed to gain ground beyond it. The falling volume profile suggests otherwise due to the lack of support from Cardano traders and investors. This is his second time Cardano has attempted to break his 50-day moving average in the past two weeks.
