Bytecoin Technical Analysis: (BCN
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Bytecoin proceeds to climb ter the market this week, spil the recently overlooked privacy coin racks up a hair-raising 56.25% build up against BTC overheen the past 7 days.
According to the Bytecoin webstek, their Binance listing is presently ter progress after months of community petitions and prayers to see the coin added to the world&rsquo,s fattest digital currency exchange.
This could be the response for the unexpected surge te support, with overheen 70% of all BCN trades presently taking place on the HitBTC exchange spil the early birds flock together to buy up cheap positions te anticipation of big news.
BCN Ter The Longer Term
Looking into the 1D chart wij can see a consolidating bullish pennant pattern take form, with lower highs and lower lows pinching into a breakout area around 40 Sats.
From there, wij&rsquo,d hope to see the price activity proceed to oscillate inbetween 40 and 60 Sats spil it reaches consolidation ter early May time.
This climb would see a build up of 152.48% from the bottom of 40 Sats, which is not too dissimilar to the surging gains wij witnessed during Bytecoin&rsquo,s last big bull run back te January.
BCN Ter The Brief Term
Things are looking pretty good for the current uptrend, with MACD cracking above the signal line with bullishly separated moving averages.
RSI is presently displaying the asset spil overbought, with momentum commencing to retrace back inwards the channel – expect a slight sell off, maybe down to the softer support at 48 Sats, before the uptrend resumes again.
The thickest confirmation of a continuing breakout comes from a latest golden cross from the 50/200EMA on the 4hr BCN/BTC chart. This is the big buy signal for most risk-conscious traders spil market sentiment is looking good for Bytecoin at the present time.
Bytecoin (BCN) Price Prediction
Taking into consideration the brief term indicators, I think wij could lightly see Bytecoin klapper the early resistance at 60 Sats overheen the next few days provided the market doesn&rsquo,t stray too far away from the current trend. At the ogenblik wij can see some slight selling pressure at 55 Sats but it should be lightly overcome with continued support.