The form, the token formerly known as Binaryx (BNX), has risen about 20% in the past 24 hours. The climb drives it to the outperform of Bitcoin (BTC) and Ethereum (ETH), a position of positioning as the leading profit in today's trading session.
Strengthening demand for altcoin can expand the gains in the short term.
The form rally gets steam
At the time of writing, the form forms at $ 2.54. The key technical indicators suggest that this upward motion may be more than a short -term spike. These signals point to a long rally, which can push the form to revisit the full time of $ 2.65, a level it reached on March 24.
For example, the token is currently trading above the Supertend indicator, which generates dynamic support at the bottom of its price at $ 2.11. This indicator monitors the direction and strength of the price trend of an asset. It is shown as a line in the price chart, color change to specify the trend: green for an uptrend and red for a downtrend.
When the price of an asset is above this indicator, it indicates the dominant purchase of pressure on the market, which pave the way for the long momentum.
For the form, the Supertend indicator provides strong dynamic support at the $ 2.11 level, which holds against price dips and strengthens the potential for continuous gains.
In addition, the Aoon UP Line line confirms the power of its climb. As this writing, it is 100%, reflecting significant purchase pressure on market participants.
The Aoon indicator measures the strength and direction of the trend of an asset by monitoring the time from the highest and lowest prices at a given period. It consists of two lines: Aoon UP, which measures the bullish momentum, and falls, tracking bearish pressure.
When the Aoon Up line is at 100 or near, it indicates a strong upward momentum and a dominant bullish trend. This indicates that the pressure of the form purchase is high, and its price can continue to increase.
Eye forms recorded high at $ 2.65 while the momentum builds
The form currently trading at $ 2.54, only 4% is shy at all times as high as $ 2.65, forming a resistance above its price. If the bullish feels towards the Altcoin soars, it can get the climax of this price and try to rally in spite of it to record new highs.
However, this bullish projection may not be valid if market participants will continue to earn income. In that case, the price of the form could fall at $ 2.44.
Refusal
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