Cypher
Binance Coin (BNB)CryptocurrencyNewsPrice Analysis

Binance Coin (BNB) Eyes $450: Price Prediction

Binance Coin’s price held beyond $400 despite modest losses during the previous session. The alternative token has consolidated beneath $420 since touching $424 peaks on 1 March. The 200 Exponential Moving Average and the bearish declining line have dealt a blow to BNB buyers. Meanwhile, the price should rise beyond the area with above-average volumes for continued price upsurges.

BNB has its price actions within a constricted range during the weekend. Enthusiasts can expect a move towards the $450 zone beyond the descending trend-line. Meanwhile, the 50-day Exponential Moving Average caps immediate downside by Binance Coin.

BNB/USD traded around $412.89 at this publication, following a 0.56% drop on the day. Binance Coin ranks 4th with a market cap of $68,343,542,053 (Coinmarketcap data).

Binance Coin Consolidates Before another Surge

Binance Coin encounters a challenge around the $420 area according to the daily price chart. That comes after the altcoin failed to overcome the level on the previous test on 1 March. Meanwhile, BNB secured a dependable support floor near the $350 zone. BNB price gained approximately 31% to its latest swing peaks since registering record lows during February sessions.

Cypher

A significant break past the bearish declining line will encounter the initial hurdle to the upside near the vital 200-Exponential Moving Average around $431. It is a crucial barrier to the eye for upcoming highs by BNB bulls. Extended buying momentum will see Binance Coin exploring the psychological area of $450.

📰 Also read:  Coinbase Stocks Rise as the BTC Crosses $70,000 Price Mark

Contrarily, a decline beneath the 50-day Exponential Moving Average will annul the token’s bullish outlook. In such a case, BNB might see its price revisiting the horizontal support floor near $360.

Meanwhile, Binance Coin needs improved sentiments to attain its upside objectives. Bitcoin steadies beyond $44K but showed some weakness over the past few hours, staying 1.44% lower over the past day.

BNB Technical Indicators

  • Relative Strength Index

The daily Relative Strength Index (RSI) sits at 58-mark while moving beyond the average line. Such reading shows an underlying bullish pressure.

  • Moving Average Convergence
📰 Also read:  IcomTech Former Promoters Convicted for Wire Fraud

The Moving Average Convergence Divergence (MACD) hovers beyond the middle line, exhibiting a neutral bias.

  • Trading Volume

The Volume Trend indicator stabilized higher since the February lows.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Leading the Charge in Crypto Innovation: An Exclusive Interview with the CEO of Stake.ch

Cypher

Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content