Binance Coin price prediction: BNB not ready to move above $700 resistance.
Binance coin price is showing a lot of bullish signs recently. The cryptocurrency has been consolidating above the $500 level since February. A few days ago, there was a strong bullish candle formed above the $500 level. The price started a solid upward move and broke the $600 and $620 resistance levels. However, there are many resistance levels on the upside like $650, $660, $670 and $680. The next key resistances are near $650 and $660. The renewed interest in Bitcoin (BTC) and other cryptocurrencies has caused the demand for BNB to surge. However, the price of BNB is facing a solid resistance near the $700 level. If there is a close above the $700 level,
Binance Coin (BNB) has been facing a lot of resistance at the $700 level, which is a key resistance level. That’s because the $700 level is acting as a major resistance for other cryptocurrencies as well, such as Bitcoin. Binance Coin had previously been trading at $750 but saw a drop down to $642. However, this could be a good time to buy BNB. Binance Coin price prediction: BNB not ready to move above $700 resistance As we can see on the 4-hour chart, BNB is trying to move above $700 but is facing a lot of resistance. On the 4-hour chart, we can see that the BNB price is very close to the
Summary of the situation
The price of Binance coins is expected to drop below $600.
The closest support level is at $600.
NBB encounters resistance at 650
Binance Coin has surpassed $610 and strong bullish momentum has led to the price challenging $670. Over the past seven days, BNB has posted gains of more than 10%, indicating continued upward momentum. However, the strong bullish activity is giving way to volatile movements in the price of the Binance Coin.
The broad crypto-currency market has been bullish over the past seven days, with most major crypto-currencies posting gains during this time frame. The best performers were DOGE and DOT, which posted gains of 33.37% and 9.07%, respectively. Meanwhile, Bitcoin and Ethereum posted gains of 2.46% and 32.26%, respectively.
Technical indicators for NBB/USDT
Technical indicators for Tradingview’s NBB/USDT
As for the technical indicators, the MACD is showing strong bullish momentum, as evidenced by the increase in size of the dark green histogram. The eighth. In March, the indicator was in bearish territory, but it is now back in bullish territory and is just below the 6.00 limit. As for the EMAs, the 12 EMA is trading above the 26 EMA with a large slope and continues to diverge while both EMAs are on the upside.
The RSI is currently hovering in neutral territory, just above the 64.00 level, but is not giving any signals. The indicator has been in the neutral zone for the past six days. At the time of publication, the RSI made another small jump into overbought territory, indicating a growing bullish presence at current price levels and suggesting buyer resistance.
Currently, the Bollinger Bands are narrow; however, since the last few candles are green, the bands will widen in the near future. If the price breaks out of the bullish channel and the bulls take over the market dynamics, it will lead to increased volatility in the price of NBB in the short term. When the price is near the upper limit of the indicator, it shows a bullish presence.
Overall, the technical analysis on the 4-hour chart gives a buy signal, as 17 of the 26 main technical indicators point to a bullish movement. On the other hand, the zero indicators are giving sell signals, indicating a bearish pullback. Meanwhile, nine indicators continue to lag, supporting neither side of the market.
The 24-hour technical analysis confirms this assessment and also gives a buy signal, as 14 of the 26 indicators point to an upward movement and only two indicators point to a bearish pullback. Meanwhile, ten indicators remain neutral and give no signal at the time of writing.
What can we expect from the Binance coin price?
4-hour Tradingview price chart
Traders should expect the Binance Coin price to head towards the $600 level as BCH tries to find a support level for a rise. The price of the Binance Coin could drop to the $550 mark and then rise again to challenge the $700 mark.
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