Is Binance Coin (BNB) Ready to Bounce Back? Price Analysis and Predictions

Stay updated on the latest price movements and predictions for Binance Coin (BNB) in this comprehensive analysis. Learn about the current resistance and support levels, as well as the overall technical position of BNB.

Posted 8 months ago in Market Analysis

Binance Coin (BNB) trading chart showing recent price movements

Bulls are trying to seize the initiative at the beginning of the weekend. The price of Binance Coin (BNB) has increased by 0.24% since yesterday.

On the hourly time frame, the rate of Binance Coin (BNB) has bounced off the local resistance at $215.4. If the drop continues, traders are likely to see a test of the support at $214.3 by the end of tomorrow.

On the daily time frame, today's slight rise has not affected the overall technical position as the rate remains far from the main levels. The falling volume confirms that neither side has seized the initiative.

From the midterm point of view, the situation is more bearish than bullish as the rate is on the way to the support level of $204.8. If buyers lose the interim mark of $210, one can expect a sharp move to the $200 zone and below. BNB is trading at $214.8 at press time.

Last updated 9/10/2023, 2:59:44 PM


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