Market Trends Update: Binance Coin on the Rise

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by Giorgi Kostiuk

2 years ago

Binance Coin (BNB) has recorded a 2.68% increase in its rate over the last 24 hours. Let's explore the current situation across different timeframes and the potential for further price changes.

Situation on the Hourly Chart

On the hourly chart, BNB might have set a local resistance level at $644.20. With most of the daily Average True Range (ATR) passed, sharp moves are unlikely for today.

Daily Chart Analysis

On the daily chart, attention should be paid to the candle closure with respect to the false breakout level. If the closure is far from this zone, a correction to the $610-$620 area is possible.

Weekly Chart Prospects

The weekly chart presents a more bullish outlook. If the bar closes near the current prices and far from the $612.60 level, growth may continue to the critical zone of $700 by the end of the month.

Binance Coin continues to show a confident rise, indicating a potential further increase in its value in the near future.

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