- Binance coin is at trading $277.88 as price surges by over 6%.
- The Relative Strength Index (RSI) is above 40, hence there is strong buying pressure.
- The next target for the bulls is $280.42, which is a key resistance level.
Binance coin token predicts an increasing trend for cryptocurrency today. The price has been steadily increasing and is trading at $277.88, with an impressive return of around 6.4%.
In addition to yesterday’s surge over the $260.86 level, which is the strongest support for BNB/USD, the market opened today with hopeful bullish indicators, continuing yesterday’s remarkable momentum. The continuation of the green candlestick suggests that Binance coin may be heading towards a new all-time high.
The one-day Binance coin price analysis reveals that the coin has been forming higher highs and higher lows, which is a bullish sign. It’s worth noting that the bulls are pushing for an extended upside movement in the near future.
More profit seems to be on its way for Binance coin buyers as the price just reached the $277.88 level. Furthermore, the chances of revival seem close as the buyers persistently put in efforts. Moreover, the daily price chart’s moving average (MA) value is at $258.3
The technical indicators are also indicating a strong bullish outlook for BNB/USD in the near term. The Relative Strength Index (RSI) is currently moving above the 40 level, which suggests that there is strong buying pressure in the market.
Furthermore, the Moving Average Convergence Divergence (MACD) is currently in the positive region, which is a further indication of the bullish outlook for BNB/USD. The Bollinger Bands are also widening, indicating rising volatility.
Looking at the hourly price chart, BNB/USD is trading in a strong uptrend, with the price hovering near its all-time high of $277.88. The bulls are attempting to break out of this resistance level and achieve a new all-time high. If the bulls are successful, BNB/USD could surge to levels above $280.42 in the near future.
The RSI for BNB/USD pair is currently in the overbought region, which suggests that some traders might be taking profits at higher levels.
The overall sentiment for BNB/USD remains bullish, and it looks like the coin is heading towards a new all-time high. Investors should keep an eye on the key support and resistance levels in order to capitalize on any potential price pullbacks or upside movements.
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Source: https://coinedition.com/bnb-hovers-near-all-time-high-can-the-bulls-set-new-all-time-high/