Price Analysis

Binance Coin (BNB) Reflects Immense Growth Overnight; Resistance Seems Likely Around $18.31

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Binance Coin has managed to get a huge yield of 9.10% over the last 24 hours, and at the time of writing this analysis, the coin was constantly trying to breach the $18 price mark. As per the current momentum, BNB price may cross its key resistance of $18.31 in the upcoming hours.

Binance Coin Price Analysis

Binance Coin News
BNB/USD Chart By TradingView

Over the last seven days, the BNB coin has added more than $2 in its value and traveled from $15 to above $17. This immense hike observed over the last two days.

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Yesterday, Binance Coin’s price was trading around $16.37 in the initial hour, and over the next 13 hours, the price was up by 5.30% and reached $17.24. This upside momentum further intensified, and the following swing took the value to $18.31 by 04:00 UTC today.

After hitting the $18 price mark, the currency faced rejection and fell to $17.86 at the time of penning down. However, Binance Coin’s current value has already surpassed the 20 days MA ($17.73) and 50 days MA ($17.46). After testing the $17.5 resistance point, the BNB price might touch the next resistance at $18.31 in the upcoming hours. The RSI of the coin indicates no extremities, but it inclined upwards with indicates bullish signals.

Resistance and Support Levels

Resistances – $17.90, $18.31, $19.08

Supports- $16.72, $15.95, $15.54

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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