Binance coin Price Analysis: BNB coin showing overwhelmingly bullish Trend

At the time of writing, Binance coin also referred as BNB coin is back with the bullish trend. The coin is showing positive momentum today and giving new hopes to the investors. Currently, Binance coin price is leading the top 20 crypto market in terms of gains, followed by Ripple coin (XRP) with 1% gain.

At press time, BNB coin is at the 7th rank in the crypto market. The coin is holding its position tight for a long time. BNB coin price has surged 3.67% trading at $34.57. BNB price recently broke the $33.00 and $34.00 resistance levels. The next major resistance is near $35.00, above which there are chances of more upsides in the near term. In terms of BNB/BTC, the price surged  5.06% with trading value 0.00377485 BTC.

Binance Coin is holding market cap $4,879,951,627 USD  with $482,208,710USD  24-hour volume and 141,175,490 BNB circulating supply. Also, the total supply of BNB coin is 189,175,490 BNB.

According to Technical Indicators

  • The Chaikin Money Flow indicates the Bullish Trend, continuous Buying Pressure, rising prices coinciding with CMF values above 0
  • The Bollinger Band is showing expanding volatility in the market.
  • The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
  • The Relative Strength indicator has turned bullish on the one-hour time frame which is above 60 levels, indicating slightly over brought phase.
  • The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
  • The Parabolic SAR markers were below the candles and showcased a bearish market.

Find out top Cryptocurrency Price Predictions and Analysis.

Show More

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Leave a Reply

Your email address will not be published.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

Check Also
Back to top button