As a seasoned crypto investor with years of experience under my belt, I’ve learned to read market trends like a book. Over the weekends, it seems like every coin is trying to outdo each other in a race to the top. Today, I’m particularly eyeing Binance Coin (BNB).
Most of the coins keep rising at the beginning of the weekend, according to CoinStats.
BNB/USD
The rate of Binance Coin (BNB) has increased by 2.65% since yesterday.
On an hourly basis, it appears that the value of BNB could have reached a nearby resistance point at approximately $587.6. Should the day’s closing price veer away significantly from this level, there is potential for a brief adjustment towards the $570 region.
On the bigger time frame, traders should focus on the candle closure in terms of the $583.9 level.
Should bulls maintain control, there’s potential for a surge leading towards the significant area around $600.
On the long-term graph, there’s an attempt by bulls to re-enter the market in the medium term. If the significant region around $600 is breached, the stored momentum could potentially drive prices toward the $680-$700 zone fairly quickly.
BNB is trading at $583.3 at press time.
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2024-09-21 19:31