If market sentiment changes and BNB’s price can rebound off the MAs, it will likely reclaim resistance at $632 and even rally past it.AMBCrypto’s readings of BNB’s 1-day price chart showed the coin’s price inching closer to its 20-day and 50-day moving averages .These short-term averages are often used to identify trends. If an asset’s price falls below its 20-day and 50-day MAs, it signals a shift in momentum from bullish to bearish.
If BNB’s buying volume declines, the possibility of this happening is further strengthened. However, an assessment of the coin’s key momentum indicators showed that this may not be true for the altcoin. The values of these indicators showed buying activity slightly outpaced coin sell-offs among market participants.
The indicator measures the relationship between the strength of the altcoin’s buyers and sellers in the market. When it is positive, it means that bull power is dominant in the market.