- BitDAO price is trading with uptrend momentum inside the rising parallel channel over the daily price chart.
- BIT crypto is trading above 20 and 50 EMA and is below 100 and 200-days DMA.
- The pair of BIT/BTC is at 0.00003213 BTC with an intraday gain of 2.37%.
BitDAO price is trading inside the rising parallel channel over the daily price chart. The token is recovering and is maintaining its recovery rate by accumulating buyers. BIT token is getting back from the lower trendline of the rising parallel channel over the daily chart. BIT crypto must maintain this pace of recovery to recover itself up to a respectable resistance level. Meanwhile, the trading volume also confirms that buyers are getting involved in the trade for BIT coin.
BitDAO’s price is presently approximated at $0.64 and has increased by 3.32% of its market capitalization in the previous 24-hour period. Trading volume has increased by 72.89% in the intraday trading session. This shows that buyers are getting attracted to the trade for BUT crypto. The volume to market cap ratio is 0.05384.
BitDAO crypto is currently trading with strong uptrend momentum as it manages to get support at the lower trendline of the rising parallel channel over the daily chart. BIT bulls must maintain the accumulation rate whereas volume change can be seen below average over the chart and needs to be increased during the intraday trading session.
What do Technical Indicators suggest about BIT?
Technical indicators suggest the uptrend momentum of BIT crypto. The relative Strength Index showcases the uptrend momentum of the BIT coin. RSI is at 56 and is moving towards the overbought territory. MACD exhibits the bullish momentum of the BIT coin. The MACD line is above the signal line after a positive crossover. BIT investors need to wait for any directional change over the daily chart.
Conclusion
BitDAO price is trading inside the rising parallel channel over the daily price chart. The token is recovering and is maintaining its recovery rate by accumulating buyers. BIT token is getting back from the lower trendline of the rising parallel channel over the daily chart. BIT crypto must maintain this pace of recovery to recover itself up to a respectable resistance level. BIT bulls must maintain the accumulation rate whereas volume change can be seen below average over the chart and needs to be increased during the intraday trading session. The MACD line is above the signal line after a positive crossover. BIT investors need to wait for any directional change over the daily chart.
Technical Levels
Support Levels: $0.55 and $0.45
Resistance Levels: $0.65 and $0.80
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.