The overall ma market has seen a slight uptick in the last 24-hours, with most digital assets in the green. Out of the top 10 cryptos, Binance Coin (BNB) and Injective Protocol token (INJ) have been leading the charge. Here’s a closer look at how these altcoins have been performing today.
Binance prices have leaped 11%
Binance Coin is trading at $325, up over 11% in the past 24 hours. The cryptocurrency has broken above a key descending trend line that had been in place since early March. This breakout could signal that Binance Coin is ready to rally toward $380 in the near term.
Binance exchange has announced its 31st project, Hashflow, on the Binance Launchpool. Hashflow is a distributed computing platform allowing users to rent out unused computing resources. This listing could help increase exposure for Binance Coin and lead to further gains in its price.
Previously sidelined investors appear to be returning to the market and backing BNB’s move higher. The increased buying pressure could help push Binance Coin toward $380 in the near term.
Injective Protocol price analysis: Bullish winds blows
INJ was also up 13% in the last 24 hours and traded at $2.61 at press time. The coin had broken out of a descending triangle pattern on the 4-hour chart, a bullish sign. The next level to watch out for would be $3. The coin is currently trading above the 20-day moving average (MA) and looks set to resume its uptrend.
The Injective Protocol price is $2.49, with a 24-hour trading volume of $300.75M across 45 exchanges. The INJ price has seen a 13% increase in the last 24 hours, with a market dominance of 0.02%. The Injective Protocol price prediction is currently bullish.
The Injective Protocol price reached its all-time high on Apr 30, 2021, when it was trading at $24.91. Since then, the INJ price has decreased to its current level of $2.49, which is still up from its cycle low of $1.125880. The highest INJ price since the last cycle low was $2.69 (cycle high).
Chainlink price analysis: LINK heads toward $10
LINK was among the top performers in the last 24 hours, with a 5% gain to trade at $8 at press time. The coin had broken out of a descending triangle pattern on the 4-hour chart, a bullish sign. The next level to watch out for is $10. The coin is trading above its 20-day moving average (MA) and looks set to resume its uptrend.
Currently, Chainlink is ranked at #21 on CoinMarketCap with a market capitalization of $3.9 billion. In terms of LINK’s trading volume, it is currently at $356.1 million. In the last 24 hours, LINK has seen a price increase of about 5%.
Technicals are bullish across Chainlink. The MACD shows increasing bullish momentum, while the RSI is above 60 and rising. The 20-day moving average (MA) has crossed above the 50-day MA, which is another bullish sign.
Conclusion
Investors should keep an eye on these three altcoins as they continue to make positive strides in the market. With Binance Coin leading the pack, it will be interesting to see how these tokens perform in the coming days.
