Binance Price Analysis: BNB Coin Price Sustains Above $500, Ready To Launch For The Moon

  • BNB coin price is currently observing a strong upside momentum and can soon see a new high. Meanwhile, it is trading with a gain of more than 8% in the intraday session.
  • The technical indicators of the Binance suggest a strong upside momentum in price. Meanwhile, BNB/BTC pair has observed a gain of more than 5.9% in the past 24 hours.

BNB coin price is currently seeing a strong upside momentum and can soon see a new high in the future. Binance coin price has seen a gain of more than 8% in the intraday session and is currently trading near the value of $530. The asset price has to cover more than 70% of its current value to reach a new high. BNB has an ROI of more than 500% which has benefitted various retail and institutional investors. It is seeing a strong upside momentum which can push the price to a new high. One can forecast that the BNB price may soon see a new high in the future.

Binance coin market dominance along with the market cap is observing a strong upside momentum. The volume of the coin is also seeing strong momentum. The volume to market cap ratio of the coin suggests a strong bullish trend. One can invest in Binance as per their needs and risk adversity.

Bulls Of BNB Coin Price May Push It To A New High

Source: Trading view

The weekly technical chart of the BNB hints towards a strong bullish trend in the price for the future. It has seen a gain of more than 9% in the past week. Binance coin price has formed a strong bullish engulfing pattern in the daily chart. The bullish momentum of the BNB coin price may see a halt near the value of $600. Meanwhile, on the downside, the support region in the coin can be seen near $300. It is currently trading below the 50 and 100 Daily Moving average, with an upcoming bullish crossover. If the coin price jumps 20% above the current level then a strong upside momentum can be seen in the future. BNB/BTC pair can also observe a new high in the future.

Conclusion

Binance coin price is currently seeing strong bullish momentum and can soon see a new high. BNB/BTC pair can also see a new high in the future. One should do their due diligence before investing

Technical Level

Major Resistance:$600
Major Support:$400

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