BNB Price Analysis: Uptrend Resumes After Breaking Resistance
The price of Binance Chain Native Token (BNB) has continued its uptrend after successfully breaking above the resistance level at $260. Currently, BNB has reached a high of $270.70 and if the upward movement persists, it is expected to reach the highs of $300 and $315.
However, on November 21, BNB experienced a temporary fall after reaching a high of $274. Nevertheless, it has since recovered and is approaching recent highs.
BNB Indicator Reading
Both charts show that BNB’s price bars are above the moving average lines, indicating a renewed upward momentum. Additionally, the 21-day simple moving average has crossed above the 50-day simple moving average, signaling a bullish crossover. Traders are advised to place bullish orders as BNB regains momentum.
Technical Indicators:
Key resistance levels – $300, $350, $400
Key support levels – $200, $150, $100
What’s Next for BNB/USD?
BNB has successfully broken above the resistance at $260 and continues its uptrend. This breakout marks the third attempt to restore the upward movement. The current trend aims to surpass the previous high of $270.
Hot Take: BNB’s Uptrend Gains Momentum
The price analysis indicates that BNB’s uptrend has resumed after breaking through resistance at $260. With positive indicators and a strong bullish momentum, BNB is likely to continue its upward movement towards higher resistance levels. Traders should consider placing bullish orders as BNB regains momentum and targets surpassing the previous high of $270.
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