- Binance Coin price analysis is bullish today.
- BNB/USD retested $480 previous resistance as support.
- Next resistance at $510.
Binance Coin price analysis is bullish today as a higher high was set yesterday, followed by a retracement to $480 resistance turned support. Therefore, BNB/USD has set a new higher low, leading to further upside later this week.
Binance Coin price movement in the last 24 hours: Binance Coin sets higher high at $497
BNB/USD traded in a range of $481.97 – $492.14, indicating a moderate amount of volatility over the last 24 hours. Trading volume has declined by 27 percent and totals $1.6 billion, while the total market cap trades around $81 billion.
BNB/USD 4-hour chart: to continue higher after testing $480 as support?
On the 4-hour chart, we can see Binance Coin setting a new higher low at $480, likely leading towards more upside over the next 24 hours.
Binance Coin price action has seen strong gain so far in October. From the previous low at $320, BNB/USD has gained around 55 percent to the current high at $497.
This price action development was a result of the strong moves higher. The first began on the 1st of October, reaching $450, while the second on the 12th of October, reaching $480.
Over the past days, Binance Coin price action consolidated above $460 until a third push higher was seen on Monday. BNB/USD peaked at $497 this time, leading to a small retracement over the last 24 hours to retest the $480 previous high as support.
Binance Coin Price Analysis: Conclusion
Binance Coin price analysis is bullish today as a higher low has been established overnight at the $480 mark. Therefore, we expect BNB/USD to continue higher and target the $510 mark next.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.