In the past 24 hours, the cryptocurrency market has shown positive dynamics. Binance Coin (BNB) has attracted particular attention, with its rate increasing by 1.87%. The article examines the key aspects of the current situation of BNB and its future prospects.
Current Market Situation for BNB
According to CoinMarketCap, Binance Coin has risen by 1.87% over the last 24 hours and is trading at $721.49 at the time of writing.
Hourly Chart Analysis
On the hourly chart, the price of BNB has broken the local resistance of $719.88. If buyers can hold the gained initiative, the upward move is likely to continue to the $730 zone.
Mid-Term Outlook
On the daily time frame, the rate of BNB is on its way to the resistance of $732.11. If a breakout occurs, the accumulated energy might push the price to the $760 range. From a mid-term perspective, one should pay attention to the interim zone of $760. If buyers' pressure continues, a test of the resistance of $793.86 is likely shortly.
Binance Coin shows positive movement in the market. With continued buying activity, further strengthening of the rate up to $793.86 can be expected. The current situation and prospects make BNB an interesting cryptocurrency to watch.
