Binance Coin At Make-Or-Break Point After Rally
Binance Coin BNB/USD
552.10+11.40 (+2.11%)
03:43:19 - Real-time Data
552.10
06:00
08:00
10:00
550.00
540.00
545.00
555.00
Technical Summary
5 Min:Strong Buy
Hourly:Neutral
Daily:Strong Buy
Monthly:Strong Buy
What is your sentiment on BNB/USD?
or
has enjoyed an upswing in the last few days, which could result in a new bull run.
Key Takeaways
Binance Coin is up more than 17.5% in the past 30 hours.
Now, BNB sits underneath a crucial resistance level.
Slicing through $470 could result in new all-time highs.
Binance, the world’s biggest cryptocurrency exchange, recently announced a $1 billion fund to support project development on Binance Smart Chain. The news was well-received by investors, pushing Binance Coin’s price closer to a possible breakout.
Binance Coin Reaches Pivotal Resistance
Binance Coin could be on the verge of breaking out soon, although it faces some critical resistance.
BNB has enjoyed significant upward price action over the past 30 hours. The third-largest cryptocurrency by market cap has surged by more than 17.5%, going from a low of $398 to a high of $467. Despite the sudden bullish impulse, BNB has reached a crucial obstacle in its uptrend.
The upper trendline of a symmetrical triangle that developed on the daily chart could prevent Binance Coin from advancing further. Since mid-May, this critical resistance level has kept rising prices at bay, leading to a correction each time BNB has tested it.
Similar market behavior could result in a rejection that pushes this cryptocurrency towards the triangle’s lower trendline at $360.
Binance Coin BNB/USD
552.10+11.40 (+2.11%)
03:43:19 - Real-time Data
552.10
06:00
08:00
10:00
550.00
540.00
545.00
555.00
Technical Summary
5 Min:Strong Buy
Hourly:Neutral
Daily:Strong Buy
Monthly:Strong Buy
What is your sentiment on BNB/USD?
or
has enjoyed an upswing in the last few days, which could result in a new bull run.
Key Takeaways
Binance Coin is up more than 17.5% in the past 30 hours.
Now, BNB sits underneath a crucial resistance level.
Slicing through $470 could result in new all-time highs.
Binance, the world’s biggest cryptocurrency exchange, recently announced a $1 billion fund to support project development on Binance Smart Chain. The news was well-received by investors, pushing Binance Coin’s price closer to a possible breakout.
Binance Coin Reaches Pivotal Resistance
Binance Coin could be on the verge of breaking out soon, although it faces some critical resistance.
BNB has enjoyed significant upward price action over the past 30 hours. The third-largest cryptocurrency by market cap has surged by more than 17.5%, going from a low of $398 to a high of $467. Despite the sudden bullish impulse, BNB has reached a crucial obstacle in its uptrend.
The upper trendline of a symmetrical triangle that developed on the daily chart could prevent Binance Coin from advancing further. Since mid-May, this critical resistance level has kept rising prices at bay, leading to a correction each time BNB has tested it.
Similar market behavior could result in a rejection that pushes this cryptocurrency towards the triangle’s lower trendline at $360.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.