BNB bulls aim for $600, but technical signs indicate...
The daily chart was poised to become positive.
Short-term speculators were gloomy.
Binance Coin [BNB] bulls sought $600 after falling to $471 in the first week of September. Buyers are determined to defend the demand zone at local lows.
Technical indicators showed mixed results, although advances are likely in the next days. The purchasing pressure wasn't consistent enough for a breakthrough.
Buyers favored 4-hour market structures. Early September saw the range formation's lows at $464 almost retested. The price rebound since then has lifted BNB beyond $535 mid-range barrier.
On the daily chart, MACD crossed bullishly, signaling higher momentum. The indicator was poised to cross the neutral zero line, indicating a trend change.
The OBV did not clear local highs. Trading volume was likewise low. Thus, a major BNB rally appeared unlikely, but it may eventually reach $604, the range high.
Since September 12, financing has been generally good. Open Interest rose on the 11th and 12th but has since stagnated. Price has fluctuated between $540 and $560.
Binance Coin Price Prediction 2024-25
Bullish optimism from last week has evaporated, leaving uncertainty. Recent OI drops indicate gloomy short-term sentiment. The spot CVD has risen dramatically in recent days, indicating considerable demand.
Despite contradicting indicators, the high CVD and mid-range resistance recovery seemed to indicate a move into range highs.
