The price of Binance Coin (BNB) is showing positive dynamics, increasing by 2.18% over the past 24 hours. This article presents an analysis of the current situation and future predictions.
Brief Analysis of BNB/USD
The price of Binance Coin on the hourly chart continues to rise after breaking the local resistance at $872.81. If bulls can maintain their position, and the candle closes significantly above this level, further growth to the $890 mark is possible.
Long-term Predictions
On a longer time frame, BNB's price shows growth following yesterday's bearish close. However, trading volume is declining, which may indicate that buyers will need more time to accumulate strength for the next move.
Trading Scenarios Ahead
Currently, the most likely scenario is sideways trading in the $870-$900 range. If BNB’s price surpasses $900 again, this would remove obstacles for a potential new all-time high.
Thus, Binance Coin's price continues to show positive dynamics, and if current trends are maintained, there’s a high chance for further growth. Investors should closely monitor the evolving situation.
