As a seasoned cryptocurrency analyst with years of experience in tracking market trends and price movements, I have seen my fair share of bull runs and bear markets. Based on the current data from CoinStats and the hourly chart of Binance Coin (BNB), I see a mixed picture emerging.
The rise of most of the coins has stopped, according to CoinStats.
BNB/USD
The rate of Binance Coin (BNB) has dropped by 2.62% over the last day.
On the hourly chart, the price of BNB appears to be gaining strength and is approaching the resistance level of $576.40. If the upcoming candlestick ends up near this mark, there’s a good chance that BNB will break through it and advance towards the $580 region.
Over a longer period, the native exchange coin’s rate is distant from its key support and resistance levels, indicating neither side appears eager for a significant price swing at this time.
The low volume additionally supports this assessment. In other words, it’s highly plausible that sideways trading will occur between the prices of $560 and $590.
Looking from a midpoint perspective, the image remains largely consistent. Should the weekly candle close near its current levels, market participants might observe a continuance of price movement within the range of approximately $550 to $600, signifying consolidation.
BNB is trading at $574.40 at press time.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- TON PREDICTION. TON cryptocurrency
- Strongest Magic Types In Fairy Tail
- ENA PREDICTION. ENA cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- GLMR PREDICTION. GLMR cryptocurrency
2024-07-30 17:56