As a seasoned crypto investor with a decade of experience under my belt, I’ve learned to navigate the volatile market with a blend of patience and calculated risk-taking. The weekend, traditionally a time for the bulls to roar, seems particularly promising according to CoinMarketCap’s analysis.
Buyers are more powerful than sellers at the beginning of the weekend, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has increased by 2.02% over the last 24 hours.
On an hourly basis, the price trend for BNB appears optimistic. Keep an eye on the nearby mark of $514. If the daily chart ends above this point, the bullish momentum could persist, potentially driving the price towards $520 and beyond.
Over a larger time period, the value of our local cryptocurrency deviates significantly from key price points. But if the cost breaches the immediate resistance level, it might trigger a potential test of the $530-$540 range within the upcoming week.
Looking at the midpoint analysis, it appears that the BNB price temporarily surged above its $454.8 support level, but this movement might not be sustainable and could potentially be considered a ‘false breakout.’
If the weekly bar tends to close close to its highest point and without a large range in between (small wick), it’s likely that prices will continue to increase towards the $560-$600 range before the end of the month.
BNB is trading at $515.4 at press time.
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2024-08-10 18:17