🚨$BNB Breakout Incoming🚨
All Eyes on Binance Coin as It Targets $750
As we step into the week, let’s dive into BNB’s technical indicators and key levels.
Current Price: $710.22 (+1.29% in the last 24 hours)
24H Range: $687.75 - $710.25
Market Cap: $102.04 billion
24H Volume: $1.81 billion
Circulating Supply: 144.01M BNB
But will it continue its upward march this week?
$BNB Analysis :
Support and Resistance Levels
BNB is currently trading near its immediate resistance of $711.67. A breakthrough above this level could set the stage for a retest of its all-time high at $793.86.
On the downside, the $700 level (7-day EMA) offers immediate support, followed by a stronger support zone around $616.
🧱Resistance Levels:
Immediate: $711.67
Key: $793.35 (ATH)
🪂Support Levels:
Immediate: $700.47
Key: $616.49
Indicators
1. EMA :
EMA(7): $700.47
EMA(25): $691.91
EMA(99): $641.33
BNB is trading well above its short, medium, and long-term EMAs, indicating a strong bullish trend.
2. Relative Strength Index (RSI): 57.02
The RSI is currently neutral but leaning towards bullish territory.
It indicates there is room for further upward movement before entering overbought conditions.
BNB’s daily chart reveals a bullish flag pattern.
If the price breaks out above $711.67 with strong volume, we could see a sharp move toward $750 or higher.
This setup, coupled with higher highs and higher lows, points to a sustained uptrend.
Volume Analysis
The trading volume remains robust at $1.81 billion. A spike in volume near key resistance levels could signal a breakout.
🎯This Week’s Price Prediction :
If BNB successfully breaks through the $711.67 resistance, we could see a rally towards $750 or even a retest of the $793 ATH.
However, failure to break resistance might lead to a short-term pullback to $700 or $691. Despite minor corrections, the long-term outlook remains bullish.
This week could be exciting for BNB holders.
"Will Binance Coin Hit New Highs Before Year-End? Keep Your Eyes on $BNB
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