Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Binance Coin is showing strong bullish momentum as it edges closer to invalidating the death cross that formed on March 17. The asset has experienced a notable increase in trading volume while pushing higher, indicating strong market support behind its current uptrend.
A death cross occurs when a short-term moving average, typically the 50-day, crosses below a long-term moving average, such as the 200-day. This is often considered a bearish signal. However, BNB’s price action suggests that this formation may be short-lived, as the asset is approaching a critical breakout zone that could lead to the formation of a golden cross — the opposite of a death cross, which signals a return to bullish conditions.
The volume surge accompanying BNB’s upward movement further reinforces the likelihood of a trend continuation. Typically, a price rally backed by increased trading volume suggests strong buying pressure, making it less likely for the asset to experience a sharp reversal. The RSI (Relative Strength Index) is also moving toward neutral ground, indicating that BNB is not yet in overbought territory and could have room for further gains.
Yuri MolchanIn the coming days, the highlighted resistance level around $640 will be a key area to watch. If BNB successfully breaks above this level with sustained volume, it could confirm the invalidation of the death cross and pave the way for a golden cross formation, potentially leading to further price appreciation. On the other hand, failure to clear this resistance could result in a temporary consolidation phase before another attempt at breaking higher.
Alex DovbnyaOverall, the current technical setup suggests that BNB is in a strong position to continue its recovery. The next few trading sessions will be crucial in determining whether the asset can fully transition from a death cross to a golden cross, further solidifying its bullish trajectory.
Vladislav Sopov
Dan Burgin