- The BEN crypto price has declined by 11$ in just a few hours.
- Ben’s price trades over the significant moving average, showcasing the bulls’ presence.
According to the technical chart, the Ben (BEN) Coin price has held near the $0.00000800 hurdle for a week, and price rejection has been witnessed with big wicks. Yesterday, the Ben Coin price was up by 14.50%, but today, it has shown price rejection and has dropped by 11% in a few hours, showing the participation of sellers.
Since January, the Ben crypto price has been on a bearish trend and has declined by forming lower lows and lower highs. The price has recorded an all-time low of $0.00000374 on February 01, 2024. In February, the BEN crypto price took a reversal and rose by taking a pullback.
BEN crypto price is trading at $0.00000644 with an intraday loss of 9.92%. The market capitalization is $2.45 billion, and the 24-hour trading volume is $0.79 million, which has risen by 23% as compared to previous days.
The RSI is at 57 and has generated a bearish crossover, indicating a negative forecast. The price has just slipped below the 20-day exponential moving average, which showcases the sellers’ involvement.
Will BEN Coin Price Record a New All-time Low This Month?
Based on the technical chart, the Ben coin crypto price has increased by taking pullbacks for the next few weeks. The price has shown negative momentum for this week; yesterday, it was up by 14.50%. However, the sellers dragged down the price and could not trigger a pullback.
Currently, the Ben crypto price is trading between the 20-day and 100-day exponential moving average, and if the price engulfs the previous candle in a daily time frame, it may remain bearish for the next few days.
If the Ben coin price is below the 20-day EMA, sellers may become confident, and the price may melt to the 100-day EMA. But if the price fails to defend the 100-day exponential moving average, it may record a new all-time low.
On the other hand, suppose the price bounces back and surpasses the 20-day EMA, then it may trigger a pullback, leading to the last swing high. Bulls may lead the trend if the price exceeds the strong resistance level of $0.00000800 and spends some time.
Ben Coin Price Technical Analysis Over the 4-H Timeframe
In a 4-H time frame, the Ben crypto price has failed to sustain the last swing high and has dropped by 11% in the last 8 hours. The price has slipped below the 100-day EMA, indicating a negative sentiment.
If the BEN price fails to defend the 200-day EMA and sustains, sellers may dominate and easily melt to the support level of $0.00000500 in a few days.
Alternatively, if the BEN crypto price surpasses the $0.00000750 level, buyers may lift the price to the $0.00001000 hurdle. In another scenario, if the price grabs the liquidity and bounces back with a rise in volume, it may record a new all-time high in a few months.
Conclusion
The price has been on a bearish trend over the broader time frame, but buyers seem strong in the short term. The price continuously faces resistance from the $0.00000800 hurdle, and sellers are strong at this level. Recently, it has failed to trigger a pullback; bears’ have dominated.
Technical Levels
Resistance: $0.00000730 & $0.00000930
Support: $0.00000620 & $0.00000520
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.