BNB was undervalued as it sat deep in the opportunity zone. Long-term holders have a shot at potential profits. Many altcoins recently enjoyed a spell of upticks, but Binance Coin [BNB], which has been around some controversy, hardly joined the party. An assessment of crypto prices in the last seven days showed that the coin’s performance […]
At the time of writing, the Market Value to Realized Value and danger zone divergence showed that BNB was close to being underbought and in an opportunity region.For the on-chain climate, the MVRV acts as a metric to measure the fair value condition of an asset. Since BNB was around the zone mentioned above, it could present a chance to accumulate more.
Interestingly, it might seem that the crypto community had gotten wind of the coin’s current state. This was because the 24-hour active addressesThe active addresses serve as an indicator of daily users on a particular blockchain. Hence, this increase means more participants on the BNB chain over the previous day. However, it was a different tale with social activity.
At press time, Santiment data revealed that the BNB social dominance was down to 2.079%. The metric measures the hype a project receives per the crypto sector discussion.and bottoms. But since the BNB price was down 5.24% in the last 24 hours, and social dominance was far from the crest, it offered a chance at long-term gains.As per the BNB volatility, the Bollinger Bands showed it was heading toward extreme zones. On the daily chart, traders had oversold BNB around 14 and 15 February.
Meanwhile, the Exponential Moving Average indicated that BNB had bullish potential in the long term. This was because the 50 EMA crossed the 200 EMA . A situation like this inferred the potential to establish a new uptrend in the long term.Subscribe to get it daily in your inbox.
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