fxstreet.com 02 Feb, 2021 15:15 am

BNB hits new all-time highs while technicals spell trouble

Binance Coin was trading sideways for the last three months of 2020 and started a bull rally at the beginning of 2021, climbing from $36 to an all-tim

Binance Coin price has hit a new all-time high at $53 on February 2.Binance Coin was trading sideways for the last three months of 2020 and started a bull rally at the beginning of 2021, climbing from $36 to an all-time high of $53 in just one month.Binance Coin price needs a healthy correction to maintain the uptrend The trading volume of Binance Coin has hit an all-time high of $1.This massive spike is a bearish sign as in the past, significant increases in trading volume have led Binance Coin price to a correction as it happened on September 14, 2020, or November 24, 2020.

If the bears can push Binance Coin below this point, they will likely drive the digital asset down to $42.The digital asset had a massive 22% breakout in the past 24 hours but might be poised for a correction.

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