- Today, Binance Coin’s price analysis is bullish.
- BNB/USD saw a strong push higher today.
- Closest resistance at $429.
The Binance Coin price is up today after a strong surge higher following a sluggish slide overnight, suggesting that the market is bullish. As a result, we anticipate BNB/USD to continue rising and surpassing the $440 previous high next.
The price of BNB/USD has been extremely volatile in the last 24 hours, with Binance Coin trading between $424.07 and $429.78, indicating significant movement over the past day and a half. Volume has increased by 8%, reaching $1.579 billion in trade volume.
The Binance Coin price put in a low of $423.11 yesterday, but the market managed to recover over the last hours. At present, it has reached a high of $429.72, and BNB/USD is up by 5% today as a result of this bullish momentum.
The market has begun to see a trend of growth, with yet another price hike signaling that the bullish sentiment is here to stay for a while. While Binance Coin didn’t test any significant resistance levels yesterday, it did manage to surpass its previous high at $400 today. Thus, we cannot rule out the possibility of further upwards movement for BNB.
From a technical perspective, a break-up of the immediate resistance at $385 will signal a continuation towards its next significant target at $472. Further support exists at $430 and $440.
BNB/USD 4-hour chart: BNB targets $385 previous high next?
On the 4-hour chart, bulls are pushing the Binance Coin price higher rapidly, with $440 insights as to the next target.
BNB/USD 4-hour chart. Source: TradingView
Overall, the price of Binance Coin has remained on a down-trend for weeks. On September 7th, a sharp decline to $385 ensued, followed by a few-day consolidation at $440 as a resistance line.
On Monday, September 26th, Binance Coin fell to a new low of $320, with several additional lower lows established since then. After that, BNB/USD exhibited a little advance before being reversed over the last few days.
Binance Coin, nevertheless, showed rejection for any further decline when its price hit $330, resulting in a strong increase over the previous hours.
Binance Coin Price Analysis: Conclusion
Today’s Binance Coin price analysis is bullish, with a strong increase in the price pushing BNB above prior resistance of $420. As a result, we anticipate that BNB/USD will continue to rise and achieve the $430 barrier next.