Binance coin price analysis reveals the bulls are continuing to gain momentum. The price is moving steadily higher, and the trend looks positive. BNB/USD is now trading above the $314 level as bulls attempt to push the price higher. Green candlesticks appeared on the chart, with certain corrections due to the bearish practice as well. Today, the price level increased to $314.04, with another resistance level at $315.06. If buyers manage to break this resistance, the price may continue its upward trend.
BNB/USD 1-day price chart: Bullish trend at $314.04 as buying pressure increases
The one-day Binance coin price analysis is dictating an increase in price after the market faced a bearish upset the previous day, but bulls came to the rescue soon and continued their upwards lead again. The small green candlestick is indicating an increase in value as the price is $314.04 currently, and the coin shows a 0.43 percent gain in value over the last 24 hours, which is an encouraging sign for the buyers.
The moving average convergence divergence (MACD) shows a bullish crossover, which is also a positive sign for the buyers. The Relative Strength Index (RSI) at 50.28 is also indicating that the market is in a bullish zone with no immediate sign of bearish pressure. The moving average indicator is also indicating a bullish trend, as the 21-day EMA is above the 50-day EMA.
Binance coin price analysis: Next resistance level for BNB/USD is at $315.06, which is the next target
The 4 hours candlestick chart displaying Binance coin price analysis is also indicating a bullish trend. The buyers are pushing the price higher, and the immediate resistance level is at $315.06. If bulls manage to break this, then it can be expected that the next resistance could be found around $320. The support area for BNB/USD is currently present at $311.55, which looks quite strong and likely to hold.
The technical indicators on the 4-hour Binance coin price analysis chart are also indicating a bullish trend. The MACD is showing increasing buying pressure, with the red line crossing above the blue line. The RSI is at 60.16, which is in the neutral zone, and if the bullish persists, the RSI can cross above 70, which would be a very bullish signal. The moving average indicator is also indicating an upward trend as the 50-day moving average indicator is above the 200-day moving average indicator.
Binance coin price analysis conclusion
Conclusion: Binance coin (BNB) price analysis reveals a Bullish trend in the market as buying pressure continues to increase. On the other hand, if the bullish trend that restarted a few hours back continues in the near future, there is a high probability that the resistance will take the price even above $320. With major support at $311.55, it is expected the bulls would keep the price level above that for some time.
