The cryptocurrency market is showing an upward trend on the first day of the weekend, and Binance Coin (BNB) is no exception. This article examines the current state of BNB and the forecast for the near future.
General Information about BNB
The price of Binance Coin (BNB) has increased by 4.82% over the last 24 hours. Currently, BNB is trading at $885.95.
Price Technical Analysis
On the hourly chart, the rate of BNB is far from the support and resistance levels. Most of the daily ATR has been passed, making sharp movements unlikely in the near term. On a larger time frame, BNB set a new all-time high at $900.71.
Outlook for the Coming Days
As there are no reversal signals yet, ongoing growth remains the more likely scenario for the coming days. From a mid-term perspective, one should focus on the level formed by the false breakout at $861.10. If bulls can hold the gained initiative and the bar closes far from that mark, an upward move may continue toward new peaks.
Thus, both short-term and mid-term forecasts for the price of Binance Coin remain optimistic, but it is important to monitor potential levels of support and resistance.
