The price of Binance Coin (BNB) has increased by 2.78% over the last day. We analyzed the current charts and price levels for BNB to understand what's expected in the near future.
Hourly BNB Chart Analysis
On the hourly chart, the rate of BNB has made a false breakout of the local support of $645.65. If the growth continues, traders may witness a test of the resistance by the end of the day.
Medium-term Prospects
A less clear picture can be seen on the daily time frame. The price of the native exchange coin keeps trading sideways, accumulating energy for a further move. In this case, consolidation in the zone of $640-$670 is the more likely scenario.
Long-term Forecast for BNB
Neither bulls nor bears are dominating on the weekly chart. However, the rate of BNB is closer to the resistance than to the support level. If the breakout of the upper line happens, one can expect a surge to the vital area of $700 and above.
BNB is currently trading at $646.33. The price's future behavior will depend on a potential breakout of the current resistance levels.
