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Binance Price Analysis: BNB/USD breaches $425 resistance and sets daily high at $436

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TL;DR Breakdown

  • Today’s Binance Coin price analysis is bullish after the coin rallied 8.62 percent.
  • BNB/USD traded within a daily range of $425 – $436 suggesting mild volatility 

Binance CoinPrice Analysis: General price overview

Today’s Binance Coin price analysis is bullish after the coin rallied 8.62 percent and breached the $420 and $425 price resistance.  We expect the coin to rally higher as the bulls are primed to hit their target near $450.  

The cryptocurrency market is trading within the green zone following rapid bullish movements across the majority of the coins. Bitcoin and Ethereum both raked percentage gains aboe 5. While Cardano, Dogecoin, and Axis Infinity appeared among the top gainers of the day. 

Binance Coin price movement in the last 24 hours: Binance Coin bounces above $415

According to our Binance Coin price analysis, BNB/USD traded within a daily range of $425 – $436 suggesting mild volatility over the last 24 hours.  The total trading volume is 17 percent up from yesterday’s figure and totals $2.47 billion. On the other hand, the total market capitalization rose by 8.31 percent to $72 billion. 

BNB/USD 4-hour chart: BNB will rally into the weekend

On the Binance Coin price analysis 4-hour chart, BNB/USD pair is attempting to break out of the $430 psychological resistance. The bulls are consolidating momentum within this price range ($428 – $430) as a means to outshine take-profit sellers at this lebel. 

Binance Coin price action represents an 80 percent rally since the last few weeks after increasing in price from a $269 swing low to the current high at $436. The coin could retrace lower from the $430 point towards the current $415 support , as way of preparing solid momentum that will cross the main resistance.

At the time of writing, Binance Coin is trading at $438. 

Binance Price Analysis: BNB/USD breaches $425 resistance and sets daily high at $436 1
Source: Tradingview 

Binance Coin Price Analysis: Conclusion 

Binance Coin price analysis will be bullish in the upcoming 24 hours after coin formed high lows aboe $420. We expect the bulls to reach their $450 target and continue pushing higher in the course of the week. 

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Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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