- At 18:00 PM GMT, Binance rose to $28.14.
- From 16:00 PM, the bullish action was at 66 degrees.
- Bullish action suggests Binance will reach $30.
At 18:00 GMT, at the time of writing, Binance ( BNB) had risen to $28.14. BNB/USD had a confident start and opened up at $28.23. Binance is showing some bullish action, which suggests it could hit $30.
Binance Price Prediction: 1-day overview
At the beginning of the day, the Moving Average Convergence Divergence (MACD) suggests that the bearish momentum reduced significantly from the higher-level action displayed. Between 06:00 GMT and 09:00 GMT, there occurred 68 degrees of bearish movement.
Between 06:00 GMT and 17:30 GMT, the MACD appeared to be slim, meaning the bearish action was small. The glimmer of hope for Binance appeared at 16:00 GMT as Binance was bullish and followed the 66-degree trend line.
At 16:00 GMT, there was a price high of $27.9. Bearish and bullish action has been alternating for Binance, but the bullish activity that the coin has just seen leaves some room for hope that BNB will hit $30 by midnight. Peering at the one-hour preview will help us see exactly where BNB is heading.
Binance Price Prediction: 1-hour overview
Peaking at the one-hour preview it is evident that bullish movement has had the greatest impact over the last hour. The two long green candles between 16:00 GMT and 17:00 GMT indicated a lot more bullish momentum.
The MACD reduction in density between 16:00 GMT reveals how the bearish momentum which occurred has reduced. There is hope that BNB will hit the desired $30 but let’s look at the one-month chart to be sure.
Binance Price Prediction: 1-month chart
Glimpsing at the one-month chart, clearly, after BNB attains the resistance level of $35.5, bearish action occurred. The Bollinger Bands ( BBs) wrapped around the candles demonstrates how the resistance level was far above what Binance investors expected.
The high resistance level suggests that Binance is performing better than it should. The bearish action Binance faced was because Binance announced this week that they would cancel services in the US within two weeks.
Binance alerted users to remove their funds so it is not surprising that some bearish action occurred.
Binance Price Prediction: 1-year overview
Peering at the whole year gives a greater understanding of BNB and whether we can expect Binance to jump to $30. The year diagram demonstrates a 14-degree angle of bullish action between March to September.
From September, a second trend line of 20 degrees emerged due to bullish action. The frequently occurring green MACD supports the bullish action throughout the year.
We can now see that the bearish action has not defined the overall bullish action BNB has taken. By looking at the BBs, it is evident how the Binance fluctuates between the upper and lower BBs.
Between August and September, Binance was performing in its upper BB zone, and it would have been a good season for investors. Likewise, up until the resistance level of $35.5, it looks like investors should have invested in BNB as it was mostly in the upper range of the BB indicators due to bullish action.
The bearish action that we have seen over the past few days is contrary to the 20-degree trend line and is no obstacle to the bullish action Binance was experiencing at the time of writing. Binance is on its way to reaching $30.