Price Analysis: Bitcoin Cash (BCH), Stellar (XLM), Binance Coin (BNB)

Overview:

• BCH and BNB movement exhibit almost a flattish MACD along the axis, while XLM remains moderately volatile.

• XLM also has a steeper falling trend in the past 24 hours as compared to BCH and BNB.

• The month ends on a dull note as the coins have had almost a flattish movement at the onset of 31st August.

BCH:

The below Bitcoin Cash price chart is a data feed from Coinbase as on 31st August at 04:17 UTC.

Tracing the 5-minute movement of the coin in the past 24 hours, we see that Bitcoin Cash has bluntly dipped below $300 and broke its major support near $290, $285 and $280 as well. Yesterday the coin was trading at $282.96 just near to its immediate support level of $280. Within no time on the same day, BCH price dipped as low as $270.26 by 4.48%. It tries to consolidate the momentum and rose beyond $280 at $283.82 by 4.83%. Unable to hold, BCH fell and just at the onset the value was again below $280 at $277.33. Currently, it is trading at $279.06 slightly below its major support area around $280 for a bullish crossover.

The current trading Bitcoin Cash price is unable to find support from any short-term moving averages and is notably lower by 2.90%, 5.41% and 5.36% from 5-day SMA, 50-day SMA, and 10-day EMA.

The MACD of BCH has maintained an almost linear motion along the axis but with a bearish crossover as signal line overpowers the MACD line. While RSI remains slightly above 30 or the oversold region.

XLM:

The below Stellar Lumens price chart is a data feed from Coinbase as on 31st August at 04:15 UTC.

Stellar Lumens’ 24-hour movement has been moderately volatile. The recent dip has taken XLM price to trade around $0.060 on 29th August. Yesterday, XLM was trading around $0.062 in initial hours of the day. While approaching midday, it rose marginally by 1.61% and got traded at $0.063. Within no time it again slipped to trade around $0.0611 by 3.62% and currently trades around similar price area only.

The current trading price of XLM is 7.57%, 6.15% and 20.77% less than the 10-day SMA, 10-day EMA and 50-day SMA.

The MACD manifests moderate volatility in the coin with a bearish crossover and RSI slightly below 50 showing no extremities in overbought or oversold region. Do visit our Stellar Lumens price prediction page to get more information about the coins’ long-term performance expectations.

BNB Coin:

The below BNB price chart is a data feed from Binance as on 31st August at 04:28 UTC.

Trading under the selling pressure, BNB coin has recorded the lowest dip around $21 testing support near $20. Binance Coin has shown its immense potential since the start of the year until now when it was trading around $6 and topped as high as $39 exhibiting 6.5X growth. The recent dip has shaken the entire crypto market and so is BNB price affected as well but previous growth is a resemblance of the comeback it can have. Yesterday, Binance coin price was $21.9 in initial hours of trading. Around 10:00 UTC it grew by 2.73% to trade around $22.57. Later, BNB has been oscillating within the said price areas only and is currently trading at $22.20.

The current trading price of Binance Coin is 10.30% 8.60% and 20.25% less than the 10-day SMA, 10-day EMA and 50-day SMA.

The MACD is appearing flattish since the start of the day today, with MACD line and Signal line having a colliding movement, while remains slightly below 50.