As a seasoned analyst with over a decade of experience in the cryptocurrency market, I’ve seen my fair share of bull runs and bear markets. Looking at the current state of Binance Coin (BNB), it seems we’re at an interesting juncture. The recent 1.45% increase over the last day is a positive sign, but the price action on the hourly chart suggests that the local resistance at $561 could pose a challenge.
Some coins have returned to the red zone, according to CoinStats.
BNB/USD
The rate of Binance Coin (BNB) has increased by 1.45% over the last day.
On an hourly timeframe, the value of BNB hovers close to its immediate resistance level at approximately $561. Should the day’s closing price remain in this vicinity, there’s a possibility that the price increase could extend towards the $565 range.
Over a longer period, it’s advisable to keep an eye on the $559.7 mark. If bulls manage to maintain control and the closing price hovers around or above this level, there could potentially be enough momentum for a rise toward the $580 region.
From the midterm point of view, the price of BNB is far from the support and resistance levels.
If the weekly bar finishes near $560, it’s likely we’ll see a period of fluctuating prices between approximately $550 and $600 over the coming days.
BNB is trading at $560.9 at press time.
Read More
- SOL PREDICTION. SOL cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- ENA PREDICTION. ENA cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- SHIB PREDICTION. SHIB cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD COP PREDICTION
- Top gainers and losers
2024-09-15 20:09