Both COMBO (COMBO) and BinaryX (BNX) are showing signs of increasing price momentum. They are expected to rise further in the coming days.
Game tokens seem to be attracting attention as Big Time (BIGTIME) has increased by 15 times since it was listed on major exchanges on October 11.
COMBO price analysis
The price of COMBO (COMBO) has formed an upward structure since hitting a yearly low of $0.41 on August 17. During this process, the price retested a strong resistance area at $0.7 on October 11 and was rejected afterward.
The subsequent decline caused the price to break below the key level of the upward structure at $0.54 on October 10, indicating the end of the uptrend.
However, the price reclaimed the key level in the following 2 days with a large bullish candle. This indicates that the previous breakdown was just a deviation (highlighted by the green ellipse) and the upward structure remains intact.
Moreover, such deviations are often followed by strong price increases.
Therefore, the price of COMBO is likely to retest the $0.7 area in the near future. This level marks a 27.68% increase from the current price.
BNX price analysis
The price of BNX has been trading inside an ascending parallel channel since reaching a yearly low of $0.17 on August 17. This is a bearish pattern, which usually leads to a breakdown in the majority of cases
However, the price of BNX broke above this channel on October 11. Invalidating the bearish pattern often leads to a strong upward movement afterward.
Additionally, the price also broke above the strong resistance area at $0.55 on the same day, further strengthening the bullish argument.
Currently, the BNX price is confirming both the channel’s resistance and the $0.55 area as support (green arrows). If successful, it could quickly rise to the next significant resistance area at $0.33, a 25.63% increase from the current price.
The daily RSI indicator supports further upward movement as it is above 50 and sloping upward.
Disclaimer: Please note that this article is for informational purposes only and should not be taken as investment advice. As an investor, it is important to do your own research before making any decisions. We are not responsible for any investment decisions you make based on this information. Not Financial Advice.
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