- BEN coin price broke out from $0.000004425 from a trendline forming below.
- Current price is struggling to cross the 50-Day EMA.
BEN coin is a cryptocurrency promoting the understanding and adoption of crypto. A collective aim that emphasizes education, advocacy, transparency, and representation. BEN coin also intends to create a future where digital assets are widely used and valued for their potential. BEN coin is available on various exchanges where crypto investors can stake and lock BEN coin to participate in the collective’s future.
How BEN Coin Price Performance Changed in 2024
On December 19, the BEN coin price experienced massive selling, resulting in a breakdown of an important support at $0.000007898. Crypto traders, on the other side, have observed this change, triggering negative sentiments.
The price has fallen to the $0.000004425 support level, declining over 55% from the $0.000010428 resistance level. Subsequently, the price got a quick bullish reaction from the $0.000004425 level but failed to break above the $0.000007898 resistance.
As a result, BEN coin price again fell to the $0.000003570 support level, followed by a trendline on February 1, 2024. However, as soon as the price reached that support level, the volume consistently increased, resulting in a trendline breakout.
Moreover, the current price is showing some signs of a bullish reversal. Additionally, the maximum supply of the BEN coin is at 420.69 Trillion BEN with a fully diluted market capitalization of $1.85 Billion. 24-hour trading volume has increased by 38.71%.
Technical Analysis of BEN Coin
The BEN coin price is moving slightly above the 50-Day EMA, reflecting positivity in the current phase. The 50-Day EMA is moving at the $0.000005681 level and can support the current BEN coin price.
BEN coin price got a bullish reaction from the $0.000003570 level on February 1, 2024. After a week, the price surged over 50% from the $0.000003946 support level resulting in a volume upsurge on February 24, 2024.
The price fell 10.14% last week after a massive buying from the $0.000004425. BEN coin price is trading at $0.000005790 after facing multiple resistance from $0.000005765 and could soon break above it.
Furthermore, the relative strength index (RSI) slope reflected a bullish divergence from the 30-mark lower band. The RSI indicates that the buyers have more strength in buying than selling at the current trading phase.
Conclusion
Lastly, the BEN coin price gave a breakout from the below trendline. On the other side, the volume had increased by over 100% since February 3, 2024. The change indicates a positive impact on buyers, which can lead to a change in bullish sentiment. At press time, the price is facing resistance from the $0.000006267 level. If BEN coin price closes above this level, it may reach $0.000007898.
Technical Levels
- Resistance Levels: $0.000006267 and $0.000007898
- Support Levels: $0.000004425 and $0.000003570
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading stocks and crypto comes with a risk of financial loss.