Despite the truth that Binance Coin was highlighted to be undervalued in a recent report, BNB was trending strongly upwards, during writing. On the contrary, EOS lacked momentum in either direction, as was the case with Compound.
Binance Coin [BNB]
Binance Coin had resumed the strong uptrend it exhibited prior to the drop in early-September, at press time. In fact, it surged past the resistance levels at $24.3 and $26.6. However, BNB may possibly drop to re-test the support at $27, before eyeing the following level of resistance.
The Directional Movement Index showed the beginning of a powerful uptrend since the ADX (yellow) was on the verge of climbing past 20, a value traders use to separate strong trends from weaker ones. The +DMI (blue) was also soaring, a sign of the trend being bullish.
In fact, BNB had reached the exact same resistance level at $26.6, earlier in the day this year, in February. A weekly close above this level could be strongly bullish for the coin in the long-term as it would represent a yearly high.
EOS was trading in between the 20 SMA (white) and the 50 SMA (yellow), with either level likely to act as support and resistance, respectively, in the short-term.
However, the 20 SMA was underneath the 50 SMA, signalling that EOS has been trending downwards recently.
The Parabolic SAR gave a buy signal, but EOS would need to move forward from the 50 SMA to offer a definite clue of its next direction.
The overhead resistance lay at the $3.1-level, while a substantial level of support lay around $2.44.
COMP was trading at $171.99, at press time, and above the $168 level which had recently served as its support.
The Bollinger Bands showed that volatility was very minimal, since the mouth of the bands had converged around price. A few days had passed considering that the squeeze set it, plus it might carry on into the week-end. Trading volume was also very low for the past few trading sessions.
The prrice within the bands moving toward the upper or lower band, accompanied by a widening mouth of the Bollinger bands, would indicate the direction of the next COMP move.