Bitcoin managed to spike over $50K after trading beneath the psychological level for more than three months. The altcoins surged as the cryptocurrency market see surged.
- Binance Coin claimed a multi-month high after increasing by 5.7% to stand at $479.14.
- IOTA traded above the resistance at the $1.11 level after a 7.35% upswing.
- VET eyes the price ceiling at $0.139 after impressive runs.
Binance Coin (BNB)
Binance Coin has its value gaining 5.7% since yesterday to trade at $479.14, establishing a multi-month high. The altcoin managed to overcome the resistance at $460.42. Keep in mind that the coin has never touched this price level since 19 May. For now, an extended upside move will push BNB towards its following resistance at $517.70.
Indicators depicted bullish signals for Binance Coin.
The Awesome Oscillator showcased a single green sign bar, confirming positive price actions. The MACD highlighted a bullish cross and noted incoming histogram green bars.
Meanwhile, Bollinger Bands diverged, confirming market volatility in the coming sessions. With plunges, BNB will hit $433.54 before heading low to $386.83.
IOTA
The previous 24 hours had IOTA gaining 7.3% to stand at $1.15. The altcoin broke the resistance mark at $1.11, targeting the $1.21 price ceiling for another period this month.
IOTA has its technical indicators pointing bullish attitude. The RSI denotes bulls as it hovers around 60-level as buying pressure keeps the neutral zone away.
The Awesome Oscillator shows green bars, signaling price upsurges. Also, MACD displayed green bars in the histogram. If price actions take IOTA southward, the altcoin will have support around $1.11 to $0.96.
VeChain (VET)
VET surged 2.9% to stand at $0.132. The coin broke above $0.124, targeting $0.139. Buying momentum increased as the RSI switched to the bullish region over the half-line.
Green bars emerged on the Awesome Oscillator, suggesting price upticks, Chaikin Money Flow maintained in the bullish area regardless of slight downticks.
VET traded at its present value on 7 June. If VET fails to maintain the current uptrend, it will secure support near $0.126 then $0.109.
For now, the overall market maintains a bullish outlook. The coins will explore higher levels if the current price retains.
Will the cryptocurrency industry sustain the current bullishness? You can comment below.
