The Price of Binance Coin (BNB) Continues to Rise
The price of Binance Coin (BNB) has been on a bullish trend, surpassing resistance levels at $420 and $460. It reached a high of $493 before experiencing a slight decline. However, the altcoin found support at the $460 level and started to rise again. If this upward momentum continues, BNB is expected to surpass the $500 mark and potentially reach its previous highs of $520 or $540. On the other hand, if it faces rejection at its recent high, it may trade within a range above the moving average lines, encountering resistance below $500. As of now, BNB is valued at $479.
BNB Indicator Reading
The price bars for BNB have consolidated above the horizontal moving average lines. The altcoin is currently trading in the overbought area of the market. The doji candlestick pattern dominates the price action, indicating indecision in the market. Despite this, the price remains stable above the 21-day SMA.
Technical Indicators:
- Key resistance levels – $300, $350, $400
- Key support levels – $200, $150, $100
What’s Next for BNB/USD?
On the 4-hour chart, BNB is showing a steady uptrend and is approaching the $500 level. Buyers have successfully broken through the previous resistance levels at $420 and $460. The next significant threshold for BNB is at $510. If buyers can surpass this barrier, it is likely that the market will continue its upward trajectory towards previous highs.
Hot Take: BNB Soaring Towards New Highs
The price of Binance Coin (BNB) has been on an impressive upward trend, breaking through resistance levels and reaching new highs. With the altcoin currently valued at $479, it is approaching the $500 mark. If this momentum continues, BNB may reach its previous highs of $520 or $540.
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