Binance Coin (BNB) showcases recovery marks after a period of landmark. Altcoin has tried to penetrate the main resistance levels, which, if succeeded, can lead to a gathering in the coming weeks.
Improving the wider market conditions supports increased bonb movement.
BNB may follow the Bitcoin price style
BNB is a strong connection of 0.90 with Bitcoin, indicating that Altcoin often moves alongside King Crypto. Looking at Bitcoin’s attempt to restore the support level of $ 100,000, this link can work for BNB, which enhances its chances of continuous gathering.
If Bitcoin is able to seize more than $ 100,000, BNB may witness increased purchase pressure. Promoting the BTC price historically leads to positive homogeneous effects of associated assets. This BNB trend can help consolidate its recovery and push the higher resistance levels in the near future.
The MACD rapprochement indicator indicates that the declining momentum fades. The MACD line approaches the bullish intersection, a technical signal that can indicate a shift from the declining to the upper momentum.
If the intersection happens, that will be the first time in a month nearly a month, BNB moves to a bullish direction. This development can attract the attention of the new purchase, which increases the support of the escalating altcoin path and promoting market confidence.
Predicting the BNB price: aims to recover
BNB has increased by 7 % over the past 24 hours, as it succeeded in penetrating the resistance area between $ 586 and $ 619. Currently traded at $ 621, Altcoin is about to stir $ 619 to support. This level will be extremely important to maintain a bullish view.
With technical and favorable conditions, BNB can rise about $ 647. A successful breach of this level would pave the way for Altcoin to reach $ 650, which enhances its recovery. Positive feelings through the encryption market would enhance BNB opportunities to maintain this upward trend.
However, if BNB fails to carry $ 619 as support, it may continue to decline. Fall in this support area can send Altcoin to below $ 586. The constant decrease is about $ 550 that will nullify the upscale thesis, indicating a possible return to the homogeneous conditions.
Disintegration
In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
