- Binance Coin price analysis is bearish today.
- BNB/USD still holds above $460.
- Lower high set overnight.
Binance Coin price analysis is bearish today as a lower high was set yesterday after failing to see further highs over the weekend. Therefore, we expect BNB/USD to see further downside over the next 24 hours.
Binance Coin price movement in the last 24 hours: Binance Coin sets lower high after a retest of $460 support
BNB/USD traded in a range of $455.41 – $475.33, indicating a moderate amount of volatility over the last 24 hours. Trading volume has increased by 3.75 percent and totals $1.73 billion, while the total market cap trades around $78.85 billion, ranking the coin in 3rd place overall.
BNB/USD 4-hour chart: BNB to break below $460?
On the 4-hour chart, we can see bearish momentum slowly returning for Binance Coin price action, indicating a break below $460 support could be seen later today.
Binance Coin price action has seen strong bullish momentum so far in October. After an initial rally to $450 during the first weeks of October, a clear higher high was set.
After some consolidation, BNB/USD retraced to $395 on the 12th of October. From there, another spike higher was seen late last week, leading Binance Coin to a new high at $485.
Since then, a failure to continue higher has been seen on the 16th of October, followed by a sharp spike lower. Binance Coin price action did return back above the $460 mark and currently looks to set a lower high. From there, we can expect BNB/USD to move lower again over the next 24 hours.
Binance Coin Price Analysis: Conclusion
Binance Coin price analysis is bearish today as a lower high was set after failing to move higher over the weekend. Therefore, BNB/USD is headed lower, likely resulting in a break below the $460 support.
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