Binance Coin, Monero, Dogecoin Price Analysis: 29 December

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Christmas seems to have come bearing gifts for Bitcoin ^[1]. Adding cheer to the festival celebrations, the world’s largest cryptocurrency scaled beyond the $27,000 price level over the past few days. As a result, the broader altcoin market has also been surging on the charts. The question now is – Will altcoins be able to sustain their momentum after an inevitable correction hits Bitcoin?

Binance Coin seemed to have answered this question by posting gains at a time when Bitcoin moved slightly lower on the charts. The same could not be said for Monero and Dogecoin, as both altcoins registered negative gains in the past 24 hours.

Binance Coin [BNB]

Source: BNB/USD ^[2], TradingView

After a sluggish start to the month, Binance Coin found its feet after bouncing back from the $25.25 support level. Since then, BNB has moved upwards on the chart and traded between the channel $31.05 and $35.93. The last few trading sessions even saw BNB spike above this channel as prices hit the $40 mark, a level not seen since June 2019. The indicators on BNB suggested that the bullish momentum was nowhere close to losing steam and that prices could surge even higher in the short term.

The MACD’s histogram demonstrated the said bullish movement, as the green bars were rising higher on the charts. The signal line remained well below the fast-moving line, proving the dominance of

Binance Coin, Monero, Dogecoin Price Analysis: 29 December

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