- BNB price is showing strength as it continues its rally, eyeing a break above its key resistance at $335, which is preventing the price from rising.
- BNB could rally higher as the price forms a bullish bias and stays above resistance.
- BNB price remains strong on the daily time frame as the price crosses 50 and 200 . is above exponential moving average (EMA).
Binance Coin (BNB) price displayed an incredible price action as the price reclaimed its key support of $270 after losing this area a few days ago. The crypto market with Bitcoin (BTC) and Ethereum (ETH) has enjoyed a slight respite bounce across most assets, as most crypto assets, including MASK, generate more than 50% gains in less than 24 hours. With the uncertainty in the cryptocurrency market, it is not yet known whether Binance Coin[बीएनबी]Will eventually break this resistance. (data from Binance)
Binance Coin (BNB) Price Analysis on Weekly Chart
The crypto market is increasingly welcoming as several altcoins have continued to produce gains of over 150% in the past 7 days after exiting their range-bound movement. The likes of DOGE have seen a rally of some great runs.
Last weeks were tough for the crypto space, with many altcoins struggling to maintain their key support areas. With the week looking more promising and bitcoin (BTC) prices gaining traction, the crypto market has enjoyed some degree of respite, but the same cannot be said for the new month as things look a bit different in terms of prices. Looks like.
After a weekly close above $300, BNB price hit a high of $330; The price faced a minor rejection to break higher in the $325 area; The price struggled to break above this area.
SHIB price maintained its bullish structure above the $300 area as BNB price rebounded towards the $335 area, which acts as resistance for BNB price to rally higher higher.
Weekly resistance for BNB price – $335.
Weekly support for BNB price – $300.
BNB Price Analysis on Daily (1D) Chart
On the daily time frame, BNB price continued to look strong as the price held above its range channel, providing strong support from sellers to stop the price.
BNB is currently trading at $324, just above its key support formed at $300 on the daily time frame, following a successful breakout from a range channel with good volume as the price hit a high of $335, Where it was rejected in an area with a higher trend. $400.
If BNB fails to clear and close above $335, we could see the price move back to $300-$270, acting as good support for the price, but if the price breaks above $335, So we would expect a rally towards higher levels of $400-$450.
Daily resistance for BNB price – $335.
Daily Support for BNB Price – $300-$270.
Featured Image From zipmex, Charts From Tradingview