- Today’s Binance Coin price analysis is bearish after a 4.56 percent retracement over the last 24 hours.
- BNB/USD traded within a daily range of $448– $465.
- Binance Coin price action has witnessed bullish patterns in the past 4 -weeks until Sunday night.
Binance Coin price analysis is bearish on the daily chart after undergoing a 4.56 percent retracement to the $448 mark following strong selling pressure. The coin begun a retracement path on Sunday night and on Monday morning, the bulls had lost control of the market and the coin dropped to the $477 region. We are expecting to record more losses into the day as sellers sustain more momentum to strongly prevent further upsides.
Binance Coin price movement in the last 24 -hours: Will bulls breach resistance at $459?
According to our 24-hour Candlesticks Binance Coin price analysis, BNB/USD traded within a daily range of $448– $465.The moderate length suggests volatility is moderately distributed across the daily chart. Meanwhile, the exchange token’s trading volume faced a 28.40 percent surge to a total of $2.15 billion. The total market capitalization stands at $77.7 billion after a 3.28 percent drop in the last 24 hours. BNB is ranking at position #4 by market cap.
4-hour Binance Coin Price Analysis: Bulls aim for $460
On the 4-hour Binance Coin price analysis, BNB/USD pair is trading upwards as bulls attempt to cross into the $460 region once more time.
Buyers are focused on overcoming bearish momentum that’s pulling the Binance Coin price action towards the early August $430 swing high. The bulls seem persistent to set a high low on the 24-hour chart, but a tug fight has ensured with resistance near $459.
Binance Coin price action has strong buying pressure in the last month. This was after the coin underwent a rapid swing low in June to the $234 mark ahead of rallying by approximately 230- percent to hit the psychological barrier at $500.
Binance Coin price analysis conclusion
Binance Coin’s price analysis is bullish as a strong rally was seen yesterday, and the market price currently trades just near the $487 mark. Therefore, we expect BNB/USD to swing higher later today and target the $495 mark next. While waiting for BNB/USD to move further, read our articles on Decentralized Exchanges, NFT Marketplace, and Bitcoin Futures
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