The Price of Binance (BNB) Coin is on the Rise
Binance Coin (BNB) has seen a resurgence in its price after being stuck between moving average lines for two weeks. Currently, the altcoin has reached a high of $320, which is its historical price level from January 15, 2024. However, it has not been able to break above the recent high of $320 from December 27, 2023.
If the bulls manage to break through the $320 barrier, we can expect the market to rise further to $340 or $352. On the other hand, if buyers fail to sustain their bullish momentum, BNB will trade sideways above the moving averages but below the $320 high.
BNB Indicator Reading
Following the recent market rally, BNB’s price bars are now above the moving average lines and returning to previous highs. The doji candlesticks have slowed down the price action, but overall, the altcoin’s upward trend remains intact.
Technical Indicators
Key resistance levels for BNB/USD are $300, $350, and $400. On the other hand, key support levels are $200, $150, and $100.
The Next Direction for BNB/USD
Looking at the 4-hour chart, BNB has resumed its bullish momentum and surpassed the moving average lines. It has reached its previous high of $320 and buyers are optimistic about surpassing the next high of $338.
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