Will the Price of Binance Coin (BNB) Rise by the End of the Week?

Discover whether the price of Binance Coin (BNB) will rise by the end of the week. Stay informed with the latest updates and analysis on BNB's performance.

Posted 9 months ago in Market Analysis

A graph showing the fluctuation of Binance Coin's price

Some coins keep rising; however, others are in the red zone, according to CoinStats. Top coins by CoinStats BNB/USD have seen a rise of 0.51%. On the hourly chart, Binance Coin (BNB) is currently trading near the support level of $212.1, and traders are advised to monitor the daily closure above this level. If the closing price remains above $212.1, there is a potential for a local upward movement to $214.

On the daily time frame, the situation remains relatively unchanged, with neither the buyers nor the sellers taking control. This is further confirmed by the declining volume. As a result, trading in the range of $210-$215 is the more probable scenario for the rest of the week.

However, the weekly chart paints a slightly different picture. If the weekly bar closes in the green area, buyers may re-enter the market. Furthermore, if the closing price is near the interim level of $220 or higher, there is a possibility of continued growth towards the $230 range in the near future. At the time of writing, BNB is trading at $212.6.

Last updated 9/28/2023, 5:14:46 PM


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