By | January 15, 2022

TL;DR Breakdown

  • Binance Coin worth evaluation is bullish at present.
  • BNB/USD continued larger in a single day.
  • Subsequent resistance goal at $506.

Binance Coin worth evaluation is bullish at present as we anticipate extra upside to observe after steady advance over the past 24 hours. Possible BNB/USD will attain in the direction of the $506 main resistance subsequent.

Cryptocurrency warmth map. Supply: Coin360

The cryptocurrency market has seen bullish momentum return over the past 24 hours. The market leaders, Bitcoin and Ethereum, each are within the inexperienced, with a acquire of 0.79 and 1.53 %. In the meantime, Binance Coin (BNB) leads, with virtually a 2 % acquire.

Binance Coin worth motion within the final 24 hours: Binance Coin slowly assessments additional upside

BNB/USD traded in a spread of $468.94 – $495.73, indicating a reasonable quantity of volatility over the past 24 hours. Buying and selling quantity has declined by 47.6 %, totaling $2.28 billion. In the meantime, the whole market cap trades round $82 billion, rating the coin in third place general.

BNB/USD 4-hour chart: BNB targets $500 subsequent?

On the 4-hour chart, we will see the Binance Coin worth nonetheless advancing larger, probably resulting in the $500 mark reached at present.

Binance Coin Price Analysis: BNB continues higher, tests $496
BNB/USD 4-hour chart. Supply: TradingView

Binance Coin worth motion has seen a robust restoration this week. After beforehand setting a sequence of decrease lows, BNB/USD lastly peaked under $415 on the tenth of January.

From there, BNB rapidly rallied 20 %, breaking above earlier native highs. Over the following days, a gradual retracement to $470 set a better low as bulls had been lastly exhausted.

Nevertheless, late yesterday, the Binance Coin worth motion resumed transferring larger, with one other larger excessive set late within the day. In a single day, BNB/USD slowly traded larger, indicating extra upside will probably observe later at present.

Binance Coin Worth Evaluation: Conclusion 

Binance Coin worth evaluation is bullish at present as we anticipate the present upswing to proceed later at present. BNB/USD ought to take a look at the $506 subsequent resistance over the following 24 hours.

Whereas ready for Binance Coin to maneuver additional, see our articles on Coinbase Vault vs Pockets, Cardano worth prediction, and crypto tax-loss harvesting.

Disclaimer. The data offered will not be buying and selling recommendation. holds no legal responsibility for any investments made primarily based on the data offered on this web page. We strongly advocate impartial analysis and/or session with a professional skilled earlier than making any funding selections.

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