Binance Coin overpowers $320 rejection and targets $330 level


Binance Coin has gained new level in short time. From $319.62, the coin is now trading at $326.49, up 3.07%. The crypto’s market capitalization is around $5.52 billion.

Binance Coin (Binance Coin) has been on a roller coaster ride over the last few days – starting off at $320 on October 13, the coin was rejected by Binance – but on October 15, Binance changed their review criteria and started allowing BNB to be listed. Being listed on Binance means the coin gets listed on the exchange, which means major international exchanges will start listing the coin. If it manages to get listed on a major exchange, it means it will be a major coin, and the price will shoot up.

After a  few days of volatile trading, Binance Coin is definitely not going to lie down and take it. Today, the price of Binance Coin is over $330, up from buying pressure of $320, and even with a big sell-off, the price is still up over $100 in the last 24 hours.  That’s just crazy.  It’s a great sign for the health of Binance Coin, a great trading signal that the coin has value, and some very strong buy support at $330+.. Read more about binance us and let us know what you think.

Summary of the situation

  • The upward wedge on Binance Coin’s daily chart has broken through the $315 level.
  • The day’s opening price of $301 is also the intraday low.
  • Binance Coin has already crossed the weekly rejection level of $320.

Binance currency price analysis: Price Overview

The price of the Binance coin on the daily trading chart shifted to a bullish outlook at the $301 opening price, triggering some white soldiers at the $317 price level. The morning trend suggests an opportunity to break above yesterday’s rejection at $320, a price level at which the bears invalidated the uptrend and brought BNB back to the weekend high of $291. At the time of writing, a rising wedge has formed on the daily chart of Binance Coin, which has broken through the $315 level. At first glance, the candles are long and green.

The start of the new week has not been good after bearish sentiment prevailed in the broad crypto-currency market. Major digital currencies suffered significant losses: BTC and ETH lost 5.25% and 6.07% respectively. The coin of the week, Enzyme Finance (MLM), made a 92% jump – the only notable news of the midweek.

Binance currency price analysis: Movement in last 24 hours

The price action of the last 24 hours on the NBB chart has the RSI in neutral territory around 62. If the bulls continue to rule, Binance Coin will fall into overbought territory, as shown by the correction on the RSI at 70. But so far, the momentum is not in favor of either, and the market is only mildly bullish.

The 24 hour chart shows a bullish cross on the moving average (MACD). Bearish momentum is retreating in the medium term and the 20-day exponential moving average is flattening. The market’s volatility index is still high, indicating high volatility in the next 24 hours.

The opening price of the day is also an intraday bottom. It seems that the optimism of buyers is driving the price to higher peaks. The intra-day high is $321 – and the bulls are still rising. Therefore, we can expect new highs in the next 24 hours.  It seems like a good time for swing traders who bought the weekend dip to $278, as they aim for the next bullish target at $420.

Source: TradingView

Yesterday’s sell signal has already backfired, as this analysis of Binance Coin’s price shows. Buyers are taking over and this could be a positive signal for the next rally to $600. From yesterday’s 8 bullish indicators, the bulls now have 19 to nullify any decline.

Binance currency price analysis: Binance currency price change on the 4-hour chart

At the time of writing, Binance Coin (BNB) is trading at $321 to the US dollar. Traders should expect significant gains in the next 4 hours. There is no sign of a downward trend, but if the currency corrects downward, traders should remain calm because the Binance currency will still correct upward.

 

The Binance coin has already surpassed its weekly rejection of $320 after trading sideways for most of last week and over the weekend. Long- and medium-term indicators point to an upward trend. Consolidation is currently gaining traction between the $320 and $330 levels. For the first time in recent days, we can say that the bulls are dominating the market.

Denial. The information provided in this Binance coin price analysis does not constitute trading advice. .com is not responsible for any investments made based on the information provided on this page. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.On June 20th, Binance Coin (BNB) broke out of its $320-$330 range and embarked on a rally that would eventually take it to $409. As it racked up gains, the token began to garner more attention, and the price rose to a current level of $440. The $440 level represented a significant resistance point where many traders, analysts, and developers were speculating on whether or not Binance Coin would continue its rally, or if it would be rejected, resulting in a major sell-off.. Read more about is binance a wallet and let us know what you think.

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