by over 2.80% and is currently trading above $340 against the US Dollar. This upward trend may continue if the resistance level of $360 is broken.
In recent days, BNB has been on the rise, steadily increasing in value from its support zone of $295. The BNB/USD pair has seen a remarkable surge in price, surpassing not only the $300 resistance level but also the $315 resistance level.
Binance Coin's upward trend is similar to that of bitcoin and ethereum, which reflects well for its future prospects. In fact, the coin has already broken through the $320 resistance level with significant trading volume, and subsequently surged past the $338 resistance level. Currently, it is trading above the $340 resistance level, indicating a strong bullish trend.
Over the course of a mere week, the BNB/USD pair has experienced a remarkable surge of more than 25.50%, indicating the possibility of substantial profits. As the market progresses, it will be intriguing to observe the performance of Binance Coin in the upcoming weeks.
The current trading price of BNB has surpassed $340 and is currently above the 21 simple moving average. Recently, the price reached a high of approximately $346.30 and is now consolidating its gains.
On the up side, the closest resistance level is at $348. The next significant resistance level is at $350, which might increase the investment's potential even further. However, the most major resistance level is forming around $360, which might be a critical turning point in the investment's trajectory. If the investment can break through this resistance level and reach $360, it may be able to soar to the $375 resistance level. Additional profits might possibly boost the asset up to $400.
If BNB fails to surpass the $350 resistance, it may experience a downward correction. The initial support on the downside is located at the $340 level, followed by the first significant support near the $335 level. The subsequent major support is situated at the $328 level. However, if BNB fails to hold the $328 support, there is a possibility of an extended decline towards the $300 support.
Price Analysis estimates that the market capitalization of this BNB is $54,318,984,187. The coin's 24-hour trading volume is around $891,879,281.
KEY LEVELS :
RESISTANCE LEVEL : $348-$354
SUPPORT LEVEL : $336-$330
After experiencing a rapid ascent, it is likely that there will be a price pullback for consolidation. However, if the bulls can rally beyond the $368.16 resistance level in the near future, it is expected that BNB will increase to $400. We would love to hear your thoughts on whether or not BNB can reach this milestone in the coming days. Please share your views in the comment section below.
Disclaimer:crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. However, it's crucial to do your own research and assess the risks involved before investing in any market.
