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  • Binance Coin maintained its bullish bias.
  • The shortage of robust promoting quantity in the course of the dip instructed that consumers remained the favorites.

Binance Coin [BNB] is predicted to proceed its stellar run of the previous few weeks. From a technical evaluation perspective, the token was buying and selling inside an space the place the consumers would have an interest because of the risk-to-reward side.

A drop under $301 may change these expectations. The proof from the symptoms and the worth motion confirmed {that a} transfer upward is extra possible. Ought to merchants look to enter lengthy positions on BNB?

The previous weekly resistance zone is predicted to push costs upward

Supply: BNB/USDT on TradingView

The 12-hour worth chart of BNB confirmed a bullish construction was current. An aggressive studying of market construction would infer {that a} fall under $307 would provoke a transfer downward. This might attain the $276-$266 help zone.

The $301.4-$315.4 zone marked in purple is a help zone on the one-week chart. It had served as resistance again in Might 2022. A drop under $301.4 would possible see BNB retrace to the $276.5 help degree or decrease.

The RSI was at 61 and confirmed that bullish momentum was robust regardless of the latest dip. The OBV didn’t see a big drop, which meant that the promoting quantity was low when the token fell to $307.

Therefore, it’s anticipated that the consumers will drive costs increased within the coming days.

The short-term sentiment leaned bearishly

BNB dips to a high-timeframe area of interest, prices predicted to bounce

Supply: Coinalyze

AMBCrypto’s evaluation of the market sentiment based mostly on Coinalyze information confirmed that sentiment favored the sellers barely. The previous three days noticed each the costs and the Open Curiosity decline. Moreover, the spot CVD has additionally taken a success.


Learn Binance Coin’s [BNB] Worth Prediction 2023-24


A transfer to $335 and $350 might be anticipated over the following week or two if the OI and the spot CVD start to development increased and costs climb above $315.

The subsequent vital resistance zone is at $350-$355. This area has not been breached in practically two years.

Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion.



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