Binance Coin Price Analysis: BNB Coin Price May Skyrocket To The Moon In Future

  • BNB coin  price is currently in a downward consolidated momentum but can soon see the bullish momentum. It is currently trading with a loss of more than 4%.
  • Technical indicators of Binance coin hints towards a strong upside trend in price . Meanwhile, BNB/BTC pair is trading with a gain of more than 0.03%.

BNB coin price is currently in a consolidated momentum but can soon revert to the uptrend. Binance coin is trading with a loss of more than 4% and is near the value of $379. BNB coin price has an ROI of more than 297599.42% which has always differentiated from other projects. The price of the coin is currently in a consolidation but can soon see a new high in the future. BNB/BTC pair can also see a new high in the future. One can invest in Binance as per their risk capacity and price action.

BNB has a market dominance of more than 3.43% and is ranked 3rd in the cryptoverse. The volume of the BNB coin along with market cap has seen a rise in the past few days. The volume to market capitalization ratio for the BNB is near 0.0374 suggesting a consolidated momentum in price. If the coin ratio jumps above 0.8 then a strong upside momentum can be seen

Technical Indicators Of BNB Coin Price Suggests An Upside Momentum 

Source: Trading view

The weekly chart of the BNB coin price highlights a consolidated bearish momentum for price. Binance coin price has seen a gain of more than 6.8% in the weekly time frame. The bullish momentum of Binance coin sees a halt near the value of $450. Meanwhile, the bounceback region in the coin can be observed near $250. The price of the coin is currently trading above 50 and 100 Daily Moving Average. It has seen a positive crossover which can push the price to a new high. The 100MA (RED) line is at $364, which is acting as a temporary support  region for the asset price. BNB has formed a doji candle on the daily chart  If the price jumps above $400 then a strong upside momentum can be seen. BNB/BTC pairs can also break out from the previous resistance created in the past.

Conclusion

BNB coin price is currently in a consolidated momentum but can soon revert to the uptrend. BNB/BTC pair can also observe a new high in the future. 

Technical Levels

Major Support:$250


Major Resistance:$450

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