BNB Price Prediction $590 |

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Summary of the situation

  • The NBB price forecast suggests near-term price divergence around the upper supply band of $590.
  • Coin Finance needs to close the day above the critical $590 level to resume the upward trend.
  • According to supply distribution data, Whales is currently accumulating Binance tokens.

At the time of writing, BNB is on the mend after a huge fall over the weekend. The sudden drop in price came as the Binance coin recently hit a new all-time high. The ongoing price rally now suggests that Binance coins are testing important resistance barriers on their way to new milestones.

NBB price forecast: Price Overview

On the 12th. In April, the Binance coin managed to reach a new high of $637 before quickly falling into a downtrend. Binance’s currency has fallen by about 30% since reaching the new cap price. Fortunately, the crypto asset found support in the $430 area, where it formed two higher highs. This puts Coin Finance on the verge of bypassing the critical $557 – $595 delivery region.

If crypto assets can get around this area, they will likely retest the new ATH after an 8% jump. In addition, Coin Finance should aim to exceed Fibo expansion levels of 127%, 142% and 162% in the $696, $726 and $769 price regions, respectively.

Changes in NBB tariffs during the last 24 hours

Source: TradingView

BNB Price Prediction $590 |

Based on the 24-hour crypto-currency price chart, the financial currency seems to be getting support from the whales as token ownership rises from 100,000 to 1 million. This confirms his optimistic predictions, as the number of whales has increased by about 7 percent. This shows that many traders and investors have confidence in the currency and expect it to explode soon.

The Whale Trade technical indicator is a type of scale that tracks trades above $100,000. The rise in this scale serves as an indicator that investors with large assets are interested in the crypto asset. Normally, an increase in the number of whales on the market is often followed by an increase. Since the 20th. In April, the number of whales on the financial piece suddenly increased by 270%. This confirms current predictions of a big Bulls run on the road.

NBB 4-hour chart

Source: TradingView

BNB Price Prediction $590 |

According to Coin Finance’s 4-hour chart, the crypto asset is poised for a significant rise if it can beat the critical rejection barrier at $590. At the time of writing, the cryptocurrency is trading around $581, while its blue MACD line is behind the signal line. All major technical indicators are rising.

While emerging bullish momentum seems certain, any upward price trend will depend on the token’s ability to bypass the stated supply area. If the financial currency does not end the day above the $590 price range, it will likely open the door for a price decline that could take the price to $550. This is due to the upcoming sales expected with cryptocurrencies. If selling pressure intensifies, the financial currency risks falling even further to critical support levels as low as $470.

Supplement

The current bullish narrative gives Binance coin bulls the advantage to push the price of their favorite token to new milestones towards the $800 region. This is possible if the holders of the currency refuse to sell the crypto token despite increasing pressure to sell it.

Denial. The information provided does not constitute commercial advice. .com is not responsible 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.

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Emilia James
By Emilia James

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