Home CryptocurrencyAnalysis Binance Coin Breaks Out From Its $335 Resistance; Will $450 be the next stop?

Binance Coin Breaks Out From Its $335 Resistance; Will $450 be the next stop?

by SuperiorInvest
  • BNB recovers with high volume when the price crosses $335 after a while while the price is $450.
  • BNB price continues to rise with strong volume as the market looks promising for many altcoins, including BNB.
  • BNB price remains strong on daily time frames as price trades above 50 and 200 Exponential moving averages (EMA).

The price of Binance Coin (BNB) recently showed a big price action as the price rose to a high of $350 and broke this region which has proved to be a difficult nut for the price of Binance Coin (BNB) recently. The crypto market enjoyed some relief across all assets, with Bitcoin (BTC) showing great traction, strengthening and pulling the market. Binance’s Coin (BNB) is gaining strength as traders and investors look to pile in. (Data from Binance)

Binance Coin (BNB) price analysis on weekly chart

The past week has seen many altcoins continue to produce over 200% gains over the past 7 days as they break out of a range-bound move as many believe that more hope could be re-established in the crypto space.

The new week looked a little skeptical, but things are starting to take shape and look more promising for some altcoins like BAND, which recovers more than 100% in less than 24 hours, showing the price development and buy order volume. BNB price has shown some great signs as it aims to move higher and hold sell orders in the $300 area.

After falling from its peak of $335 a few weeks ago, BNB has had a big fight to generate a rally that has left many euphoric and attracted the attention of investors, traders and affiliate shops.

BNB price saw its trade at a low of $240 on the weekly chart; the price quickly rebounded from this area when the price rebounded to the $335 area where it was rejected to the $270 area. Nevertheless, the price rebounded from here after forming a strong support in the $350 area as the price aims to rise above $450

Weekly resistance at BNB price – $400-$450.

Weekly support at the price of BNB – $300.

BNB Price Analysis On Daily (1D) Chart

BNB Daily Price Chart | Source: BNBUSDT On Tradingview.com

On the daily time frame, BNB price continues to look strong as the price has broken out of its price action range to the $335 high as the price is headed towards a daily high of $400-450 where the price could face major resistance to break higher.

BNB price is trading at $350 above the 50 and 200 EMAs, indicating a good sign of relief for BNB price on the daily time frame. The price of $305 and $290 correspond to the EMA values ​​acting as price support.

Daily resistance for BNB price – $400-$450.

Daily support for BNB price – $305 – $290.

Featured Image From zipmex, Charts From Tradingview 

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