As markets reacted to the news that a judge in the United States had sided with Grayscale in its dispute with the Securities and Exchange Commission (SEC), BNB soared this afternoon. The SEC erred in refusing Grayscale's request to convert its bitcoin product into an ETF, the court ruled. The price of bitcoin also increased, reaching its highest level since June.
BNB
BNB has largely gone higher in recent days after last week's one-year low, with today's jump occurring following the most recent U.S. consumer confidence survey.
BNB/USD rose to a high of $233.06 early in today's session after hitting a low of $217.05 to begin the week.
The native token of cryptocurrency exchange Binance has risen as a result, reaching its highest level since August 16.
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| BNB/USD _ Daily Chart |
The 14-day RSI surged past a crucial resistance level of 53.00, which is how Tuesday's advance occurred.
Price strength is currently tracking just above this level at 54.13, with a ceiling of 55.00 pending.
Because traders closed out their positions out of concern for a reversal in the vicinity of this zone, earlier profits have considerably lessened.
Toncoin (TON)
Another major gainer on Tuesday was tonnecoin (TON), which soared to its highest level in more than two months.
Following a low of $1.49 on Monday, TON/USD increased to an intraday high of $1.63 earlier in today's session.
Due to this price increase, toncoin has reached its highest point since its peak on June 10 at $1.68.
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| TON/USD _ Daily Chart |
This occurs after the RSI surged past a 66.00 resistance level. It is currently at 70.41.
Because price strength is overbought, bears will probably be hiding out and waiting for a chance to reenter the market.