- BinaryX Price is trading in a cup with a handle pattern over the daily chart.
- The crypto asset has recovered above 20, 50, 100 and 200-days Daily Moving Average.
- The pair of BNX/BTC is at 0.003081 BTC with an intraday gain of 6.84.
BinaryX price traded through a cup with handle pattern over the daily chart. The token has successfully recovered above each of the 20, 50, 100 and 200-days Daily Moving Average. BNX coin price after making a rounding bottom pattern is now trading inside a channel making handle of the cup. BNX investors need to wait for the token to gain either of the strong uptrend or downtrend momentum. Simply BNX investors need to wait for ayi directional change over the daily chart.
BinaryX price is presently CMP at $111.9 and has lost 1.63% of its market capitalization in the last 24-hour period. Trading volume has decreased by 5.73% in the intraday trading sesion. This shows that sellers are getting involved in the trade to start the short sell off for BNX coin. Volume to market cap ratio is 0.2102.
BinaryX price experienced a great recovery phase through a rounding bottom pattern and making a cup over the daily chart. The token now consolidates inside a channel making a handle of the cup with a handle pattern over the daily chart. Volume change can be seen below average and needs to grow for BNX to escape the consolidation phase inside the channel.
Support at the lower end is at $100 and resistance at the higher side is at $125.
Trading Strategy for BinaryX Investors
BNX investors waiting for the token to signal any directional change over the daily chart. BNX coin must gain support of buyers and escape the consolidation phase. Technical Indicators suggest sideways momentum of BNX coin. Relative strength Index showcases that BNX is returning from the overbought territory and now trading with sideways momentum towards neutrality.
MACD exhibits the consolidation phase of BNX coin over the daily chart. The MACD line is below and parallel to the signal line. Investors need to wait for any directional change over the daily chart.
Conclusion
BinaryX price traded through a cup with handle pattern over the daily chart. The token now consolidates inside a channel making a handle of the cup with a handle pattern over the daily chart. Technical Indicators suggest sideways momentum of BNX coin. Investors need to wait for any directional change over the daily chart.
Technical Levels
Support Levels: $100
Resistance Levels: $125
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.