After extending recent gains, bnb rose to its highest point in two months during today’s trading session. Following tweets by Changpeng Zhao from Binance, the CEO of Binance, this move confirms a new partnership between Swiss watchmaker Franck Muller. For the second consecutive session, Ethereum Classic was down.
Binance Coin (BNB).
BNB, the native token of the Binance ecosystem, was one of today’s biggest movers, as it rose to its highest level in two months.
This was in response to Franck Muller, a Swiss luxury watchmaker.
Binance CEO Changpeng Zhao confirmed the news, tweeting, “Franck Muller accepts BNB payment for their watches”.
As a result of this, BNB/USD rose to an intraday peak of $307.76 in today’s session, less than 24 hours after trading at a low of $290.32.
BNB rose above the $300 resistance mark in this move, and reached its highest point since June 6.
The momentum is now easing following this high as bulls may have liquidated earlier positions at the level which was traditionally a point for uncertainty.
BNB seems to have moved into overbought territory. BNB’s 14-day relative weakness index (RSI), is currently at a peak of 69.77.
However, ETC (ethereum classical) fell for the second consecutive day as prices continued to fall after a recent high.
ETC/USD has traded in the red since July 29th, when it reached a high of $45.40. This was the highest level since April.
Today’s drop saw the cryptocurrency fall to an intraday low of $35.10, which is marginally higher than a current support level of $35.00.
The prices of tokens have risen slightly since the low point, trading currently at $36.14 as of writing.
The 14-day RSI is now tracking at 67.
If we see continued price strength, ETC bulls may attempt to push the token toward a $38.90 ceiling.
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Images CreditsShutterstock.com – Pixabay. Wiki Commons. Iryna Budanova
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