As a seasoned analyst with over two decades of experience in the financial markets, I find myself intrigued by the current state of Binance Coin (BNB). Having navigated through numerous market cycles, I must admit that the crypto space continues to surprise me with its unpredictability and resilience.
Buyers are back in the game, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has gone up by 2.78% over the last day.
Looking at the hourly chart, the price of BNB appears to have experienced an apparent breakthrough above its immediate support level of $645.65. Should this upward trend persist, it’s possible that traders will see a challenge of the resistance level by the end of today.
On a daily basis, the image isn’t as sharp; the native exchange coin is moving laterally, building up momentum for a potential future shift.
In this case, consolidation in the zone of $640-$670 is the more likely scenario.
On the weekly chart, neither bulls nor bears seem to be in control. Nevertheless, Binance Coin (BNB) is hovering near the resistance rather than the support level. Should it successfully breach the upper boundary, there’s potential for a surge towards the crucial zone of $700 and beyond.
BNB is trading at $646.33 at press time.
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2024-12-03 16:18