BCN Price Analysis - August 24, 2018
At the time of writing, BCN price against BTC is currently sitting at 0.000000260 (260 for short).
Right now it looks like BCN has entered stagnation mode after the high formed on August 18th (along with many other coins). It has formed a temporary support that looks to be holding quite well at around 257. On the upside, it has two resistance levels it must pass on any meaningful drive up, one at 272 and the other at 285. On the downside, breaking below 257 would really render the last short rally meaningless, but below that, last stand for BCN would be around 248 or so.
Over the past several months BCN has retraced almost 100%, so if you love trading some of these small alts, this one might be worth an inspection. Just be aware that its 24h volume at the time of writing was $2.7 million.
On the daily chart for BCN, technical indicators give a very bearish outlook (15 sell, 10 neutral, 1 buy)
On the weekly chart for BCN, technical indicators give an almost identical bearish outlook (15 sell, 9 neutral, 2 buy)
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