We are very close to a major bullish breakout, as resistance from the broken symmetrical triangle at $325 is getting weaker, and a breakout above $350 is imminent. The 100% Fib retracement level of the last 4 months of decline from $423 to $295 is also viable support. A move above $350 would open up a bullish outlook for BNB/BTC.
Bitcoin’s price action has been extremely volatile over the past week, and this is not surprising given the contentious hard fork that was recently executed. The hard fork resulted in a new cryptocurrency being born called Binance Coin (BNB). Most altcoins on the market have failed to rise in price following the hard fork, but Binance Coin has been one of the few exceptions.
Binance Coin (BNB) is the world’s leading cryptocurrency exchange. The exchange was launched in July 2017 by a group of blockchain enthusiasts in China. The exchange is dedicated to providing professional and safe exchange services for cryptocurrency enthusiasts. The exchange initially started with a set of cryptocurrencies trading pairs and then expanded to other popular cryptocurrencies. Since it was launched in July 2017, the exchange has grown over 1,000% in terms of trade volume and over 20,000% in terms of 24-hour trading volume.. Read more about best crypto investments 2021 and let us know what you think.Summary of the situation
- BNB is again testing the $325 support level.
- Lower highs always push the market lower.
- The next target is $375.
The Binance Coin price analysis for today is bullish as we expect BNB to break out of a multi-day consolidation into a descending triangle. Therefore, the next price target of $480 should be reached next week. Overview map of crypto-currencies. Source: Coin360 The general market has moved into negative territory over the past 24 hours. Bitcoin remained relatively stable, while Ethereum lost almost 3%. The rest of the market follows this trend with mixed results.
Binance currency price movements over the past 24 hours
BNB/USD was trading in a range of $334 to $348, indicating moderate volatility. Trading volume fell 33.45% in 24 hours to $1.568 billion. The cryptocurrency has a total market value of $51.8 billion, putting it in 4th place.
NBB/USD 4 Hour Chart – NBB drops again
On the 4-hour chart, we see that the market continues to make lower highs, preventing the $325 NBB level from falling further. 4 hour chart of NBB/USD. Source: TradingView The overall market dynamic has turned bullish again in recent weeks. After hitting a low of $215, the NBB/USD pair began to rise and reached resistance at $375, suggesting that the bears are exhausted and we can expect a reversal in the coming weeks. The NBB/USD rose to a significant high of $425 last week, which is another indication that the bulls are taking control of the entire price structure of the market. From there, BNB has fallen back in recent weeks until support was found at $325. Since then, the $325 support level was tested several times and several lower highs formed a line of downward resistance. Therefore, we should see a breakout early next week, with the next resistance at $375.
Binance currency price analysis: Supplement
Binance Coin price analysis for today is bullish as the market prepares to finally break out above the descending triangle consolidation that has been going on for several days. If the NBB/USD pair breaks upwards, we can expect the next small support at $375 to be reached early next week. I am waiting for more action on the price of Binance Coin, how to withdraw bitcoins, how to buy bitcoin stocks, and if I should buy bitcoins. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Binance Coin (Binance Coin) is a relatively new cryptocurrency that has recently started to make some waves. The coin is currently trading at $325 after starting the week at $268, and it looks as though it is ready to break out of its consolidation appearance. The recent move up is likely due to the announcement that Binance will be listing the coin on June 21st.. Read more about best kryptovaluta 2021 and let us know what you think.
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