Binance Coin Breaks Out Of Its Resistance Of $335; Will $450 Be The Next Stop?

  • BNB rises after bulls eyes $450. After a time, price breaks below $335.
  •  BNB’s price continues to trend higher with strong volume as the market looks promising for many altcoins, including BNB. 
  • BNB’s price remains strong on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA).

Binance Coin price (BNB), recently displayed some amazing price action. The price soared to $350, breaking through the region which has been a tough nut for Binance Coin price (BNB). There has been some relief in the crypto market, as Bitcoin (BTC), which is showing great momentum, rallies and drags it, has seen some price action. Binance’s Coin (BNB) rallies with strength as traders and investors are keen on accumulating. (Data from Binance).

Weekly Chart: Binance Coin (BNB), Price Analysis

Altcoins continued to see over 2000% growth in recent weeks, despite breaking away from their range-bound movements. Many believe that more hope is now settling into crypto. 

Although the new week looked uncertain, things look more positive for altcoins like BAND. BAND rallied over 100% within 24 hours. This is a sign of price action as well volume for buying orders. BNB’s price has been showing some impressive signs. It is aiming to rise higher and holding back sell orders in the region of $300.

BNB’s price dropped from $335 its peak a few weeks ago. It has struggled to rally and has been the focus of traders, investors and partners. 

BNB’s price traded at $240, a low on its weekly chart. The price quickly bounced back to $335 and then to $270. The price rebounded after it formed strong support at $350. This price is aiming to rise past $450.

Weekly resistance for the price of BNB – $400-$450.

Weekly support for the price of BNB – $300.

BNB Price Analysis On The Daily (1D), Chart

Source: BNBUSDT On| Source: BNBUSDT On

The price of BNB continued to be strong in the daily price range. It broke from its range price movement at a high point of $335. Now, it aims to rally to a daily peak of $400-$450. If the price fails to rise, there could be major resistance. 

The price of BNB trades at $350 above the 50 and 200 EMA, which indicates a good relief sign for BNB’s price on the daily timeframe. Prices are supported by the EMAs. The prices of $305-$290 match the price.

Daily resistance for the BNB price – $400-$450.

Daily support for the BNB price – $305-$290.

Featured image from zipmex. Charts from Tradingview 

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