The cryptocurrency market is witnessing a continuing rise in the price of Binance Coin (BNB), which has increased by 4.59% in the last 24 hours.
Increase in BNB Price
The price of Binance Coin (BNB) has risen by 4.59% since yesterday, reaching $722. This reflects the current positive trend in the market.
Market Technical Analysis
Despite today's increase, the hourly chart for BNB remains bullish. If the $728 resistance level is broken, there is a possibility of reaching the $740 range. On longer time frames, there are no reversal signals yet, and high trading volumes indicate that buyers are maintaining control of the market.
Future Prospects
From a mid-term perspective, the price of BNB is approaching the $737 resistance level. If the weekly bar closes around or above this level, traders may anticipate growth to the next level of $793 by the end of the month.
Overall, the rising price of Binance Coin and positive signals in the market may indicate a continuing upward trend in both the short and mid-term.
