BNB Is on Course to Achieve the Next Resistance Level of $340

BNB (BNB) Long-Term Analysis: Bullish
The BNB (BNB) price has sustained its upward pace as it rises to achieve the next resistance level of $340. The value of the cryptocurrency has reached a high of $311.90. The next high for the altcoin is projected to be $340. BNB is expected to experience substantial competition at the high of $340. The $340 barrier level is the previous price level on May 1.

If BNB/USD reaches its former high, it will be extremely overbought. Meanwhile, the rising trend is wavering below the $311 resistance level. The market is projected to surge past the previous high of $311. The market is currently trading below its previous high. Price levels in the market will range between $260 and $311 if the current resistance is not surpassed.

Technical indicators:
Major Resistance Levels – $440, $460, $480
Major Support Levels – $240, $220, $200

BNB (BNB) Indicator Analysis
The 21-day and 50-day simple moving averages are trending upward, indicating an uptrend. The price bar rises and bounces above the moving average lines. The market is reaching overbought territory. Overbought conditions may not persist in a strong trending market.

What Is the Next Direction for BNB (BNB)?
Binance Coin has extended its positive momentum as it rises to achieve the next resistance level of $340. BNB is presently on track to achieve the next resistance level of $340. Buyers will encounter a stumbling block if they attempt to break through the $340 barrier. The altcoin has not moved above the recent high in the prior price action.

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