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BNB Bounces off $300 Support And Looks To Challenge $360

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BNB Bounces off $300 Support And Looks To Challenge $360 thumbnail
  • Binance Coin’s (BNB) price posted 1.63% gains in the last 24 hours.
  • BNB’s price is also up for the last 7 days and has risen 11.18% in the last week.
  • The weekly chart for BNB shows signs of the outlook for BNB turning bullish.

Binance Coin’s (BNB) price posted 1.63% gains in the last 24 hours, taking its price to $333.96, according to CoinMarketCap. BNB’s price is also up for the last 7 days with a growth rate of 11.18%.

The price of BNB is very near its 24 hour high of $336.67, with its low sitting around $313.55. Its price has also strengthened against Ethereum (ETH) by 0.80%. However, BNB has weakened against Bitcoin (BTC) by around 0.84% at the time of writing (7:15 AM GMT +2). At the moment, BNB is worth approximately 0.01111 BTC and 0.1667 ETH.         

Ranked number 4 on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, BNB’s market cap currently stands at $54,487,339,659. The daily trading volume of BNB has seen a bit of a decrease of 12.59% in the last day. This takes the total 24 hour trading volume to $2,044,051,118.

RSI approaches signal line (Source:TradingView)
RSI approaches signal line (Source:TradingView)

The weekly chart for BNB/USDT shows signs of the outlook for Binance Coin turning bullish. At the moment, the RSI line is closing in on the RSI SMA line. We can confirm that the two-week bullish move will continue for Binance if the RSI crosses above the RSI SMA.

However, the price of BNB is approaching the 8 EMA. We may see this line act as a resistance level. Should the price cross above the 8 EMA, the next target will be the 20 EMA. We may then only see the RSI cross above the RSI SMA.

Currently, BNB’s price has a support level at $300 and a resistance level at $400.

Article Categories:
Altcoin News · Binance Coin · Bitcoin · BNB · BNB Price · Latest Post · News

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