Binance Coin Ascent Continues as It Aims to Regain the $361 High
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Binance Coin (BNB) Long-Term Analysis: Bullish
Binance Coin’s (BNB) advance has been sustained as it aims to regain the $361 high. Buyers are making an effort to retake the $361 prior high. The market is getting close to being overbought as the bullish momentum continues. A retraced candle body on the upward trend of January 13 tested the 61.8% Fibonacci retracement line. According to the retracement, BNB will increase to the level of the 1.618 Fibonacci extension, or $354.80.
Binance Coin (BNB) Indicator Analysis
At level 66 of the Relative Strength Index for period 14, BNB is in the bullish trend zone. As the coin gets closer to the overbought area of the market, it is rising. As the altcoin rises, the price bars are above the moving average lines. BNB has above level 80 of the daily Stochastic indicator and entered the overbought zone.
Technical indicators:
Major Resistance Levels – $440, $460, $480
Major Support Levels – $240, $220, $200
What Is the Next Direction for Binance Coin (BNB)?
Binance Coin will continue to increase as it aims to regain the $361 high. The $335 barrier level has been blocking the upward trend since February 2. The price of the altcoin is close to the overbought area of the market. If the current barrier is broken, the goal price of $361 will be reached.
You can purchase crypto coins here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
