- The price of the Ben Coin is declining from the overbought zone.
- BEN price is not trading with any fiat currencies.
Ben is an Ethereum-based meme coin launched in May 2023 by ben.eth, not BitBoy Crypto. It operates as a decentralized autonomous organization (DAO) with governance by coin holders. BEN aims to advance crypto education, adoption, media transparency, and regulatory advocacy despite facing legal challenges and controversy.
The market cap of the Ben Coin is trading flat while the price of the crypto is showing a decline of 1.56% in the last 24 hours. Also, the market cap value of the crypto is $2.04 Billion which results in a market cap dominance of 0.07%.
The market cap ranking of the crypto is #4117 and the trading volume for the crypto has witnessed a decline of 21.04% in the last 24 hours. Furthermore, the value of the traded volume for the crypto is $93.2K which furthermore results in a volume/market cap ratio of 0.00%. This represents very low liquidity in the crypto price.
The circulating supply of the crypto is 420.69T BEN which is similar to its maximum supply and the total supply. This further results in a fully diluted market cap of $2.04 Billion.
Also, the sentiment of the crypto is bullish and the fear and greed index of the crypto indicates extreme greed as per Coincodex.
The price of the crypto made its significant all-time low price on December 08, 2023, and the price of the crypto since then has advanced by 258082563.55%. Also, the all-time high price of the Ben Coin was achieved on March 07, 2024. The price of the crypto has declined by 41% from its all-time high price of $0.000008361.
BEN Crypto Technical Analysis
The price of the BEN crypto has broken below a crucial support level where is took rejection for three consecutive times. The break of the following dynamic trendline denotes bears dominance and pessimism among the investors.
The following behavior of the price represents a downtrend in the crypto price and a higher probability of a further decline in the price of the crypto.
BEN/USD Chart by TradingView
Popularly known EMAs such as the 20-day and the 50-day EMAs are trading in a bearish cross and the price has declined below the EMAs. Further, the price of the crypto is consistently declining with the metrics of the EMAs.
The MACD indicator is also showing weakness on the chart as the MACD and the signal line are declining towards the lower levels followed by a bearish cross of the MACD and the Signal line.
The RSI for the crypto has declined from the overbought zone to the level of 38.16 on the daily chart. It also has further declined below the 14-day SMA indicating weakness in the price momentum of the crypto.
Summary
Investing in BEN coin is currently unfavorable due to its declining price from overbought levels, absence of fiat trading pairs, and low liquidity. Technical analysis highlights a bearish trend with key support levels breached, EMAs in a bearish cross, and weakening MACD and RSI indicators, suggesting further downside potential.
Technical Levels:
- Support Levels: $0.000003560 and $0.000004460
- Resistance Levels: $0.000007750 and $0.000009460
Disclaimer
This article is for informational purposes only and does not provide any 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.