Binance Coin Breaks Out Of Its Resistance Of $335; Will $450 Be The Next Stop?

Binance Coin Breaks Out Of Its Resistance Of $335; Will $450 Be The Next Stop?

  • BNB rallies with high volume as price breaks above $335 after a while as bulls eyes $450.
  •  BNB’s price continues to trend higher with strong volume as the market looks promising for many altcoins, including BNB. 
  • BNB’s price remains strong on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA).

Binance Coin (BNB) price recently showed some great price action as the price rallied to a high of $350 and broke past this region that has proven to be a difficult nut to crack in recent times for Binance Coin (BNB) price. The crypto market has enjoyed a bit of relief across all assets, with Bitcoin (BTC) showing great traction, rallying and dragging the market. Binance’s Coin (BNB) rallies with strength as traders and investors are keen on accumulating. (Data from Binance)

Binance Coin (BNB) Price Analysis On The Weekly Chart

The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more. 

The new week has looked a bit skeptical, but things are beginning to shape up and looking more promising for some altcoins, like BAND, rallying over 100% in less than 24 hours, showing the price action and volume for buy orders. The price of BNB has shown some great signs, as it aims to rally higher, holding off sell orders at a region of $300.

After dropping from its high of $335 some weeks back, the price of BNB has had a great struggle to pull off a rally that has left many in euphoria, drawing the attention it had from investors, traders, and partnership deals. 

The price of BNB saw its trade at a low of $240 on the weekly chart; the price swiftly bounced from this region as the price rebounded to a region of $335, where it was rejected to a region of $270. Still, the price bounced from here after forming strong support to a region of $350 as the price aims to rally past $450

Weekly resistance for the price of BNB – $400-$450.

Weekly support for the price of BNB – $300.

Price Analysis Of BNB On The Daily (1D) Chart

Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com

In the daily timeframe, the price of BNB continues to look strong as the price broke out of its range price movement to a high of $335 as the price aims for a rally to a daily high of $400-$450, where the price could face a major resistance to break higher. 

The price of BNB trades at $350 above the 50 and 200 EMA, which indicates a good relief sign for BNB’s price on the daily timeframe. The price of $305 and $290 corresponds to the values of the EMAs acting as support for prices.

Daily resistance for the BNB price – $400-$450.

Daily support for the BNB price – $305-$290.

Featured Image From zipmex, Charts From Tradingview