The most recent Binance Coin price analysis indicates that the bullish side’s momentum is gaining strength. Since the bullish momentum has been such a blow to the bears, the price levels have traversed an incredibly wide range. The bearish control has been destroyed as the price levels have reverted to their previous high of $326. The support levels are moving over $318 as well, and if the bullish trend continues to pick up steam, they could soon reach a new high.
BNB/USD 1-day price chart: After repeated denial, bullish momentum picks up
The 1-day Binance Coin price analysis is showing positive trends for the purchasers, which is encouraging them to continue raising the asset’s worth. The most recent trends have been favorable for cryptocurrency, not withstanding the slight price movement from the prior week. The coin’s value increased by 3.88 percent over the past 24 hours, and over the past week, it has increased by about 4.86 percent.
BNB/USD 1-day price chart. Source: Tradingview
Although bullish superiority was seen over the previous two days, today’s price increase above $318 is remarkable. This figure is quite close to the upper limit of the volatility indicator. If we talk about the Bollinger bands values, at the time of writing, the upper band is at $328 and the lower band is at $304. The mean price value, or moving average (MA), is $313 less than the present price. The Bollinger bands average has also moved to $316, which is still above the MA, but volatility is rising once again. The Relative Strength Index (RSI) score also increased significantly and now successfully measures 60.
Binance Coin price analysis: Recent developments and further technical indications
The 4-hour price chart for Binance coin price analysis is showing that the cryptocurrency has encountered continuous bearish strikes, and the bears have succeeded in breaking through the bullish streak. Over the course of the first eight hours of trading, the bulls performed incredibly well. However, as soon as the price reached $335, selling pressure started to build, and over the course of the last 12 hours, the price has been falling.
BNB/USD 4-hours price chart. Source: Tradingview
The Bollinger bands average has grown up to $316, while the moving average has reached $322, and the SMA 20 curve has also reached a new high. The distance between the Bollinger bands is growing, which is a sign of rising volatility and a likelihood that bullish momentum will eventually prevail in the future. The upper and lower Bollinger bands are both rising, with the top band rising to $331 and the lower band falling to $301. The RSI score is likewise falling and has now reached the neutral zone after leaving the overbought region, touching index 69.
Binance Coin price analysis conclusion
It is clear from the Binance Coin price analysis that the bulls have done well. The coin is anticipated to close in the green even though the price is currently falling. With a startling price increase that raised the value to $326, the bullish momentum was quite strong and quickly overtook the bearish. Despite the unsatisfactory outcomes in the previous hours, we anticipate BNB to retest $335 in the upcoming hours.
