- BNB performed with favorable momentum on Saturday’s trading session
- Binance coin price is at $298.36, which is up by 12.80% in the last 24-hour time-frame and 133.30% up from the previous week
- BNB/BTC pair is negative with 12.80% in Saturday’s trading session (0.0051922)
Binance Coin had bullish momentum on the weekly chart, and it went up to $342.88 on February 20, 2021, while breaking above the resistance zones created in the past. Whereas BNB price set a mark of an All-time high a few hours ago. Meanwhile, the market cap reaches $12,971,519,834, describing a rise in the amount of 13%, dominating the third position on Coinmarket cap after Bitcoin and Ethereum. The BNB/ETH pair is in a downtrend with a value of (0.145974) which is down by 14% in Saturday’s trading session.
Binance Coin Technical Chart Indicates a Bullish Momentum
The technical chart of Binance Coin highlights a positive trend. In contrast, Binance coin price is at $298.36. According to pivot points, the critical support level for BNB is placed at $230. Whereas if it moves up the key resistance levels to observe is $405. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish engulfing candlestick pattern.
Volume indicator with the value (1.323M) reflects a selling volume in coin. Investors can further expect a decrease in buying volume in the upcoming trading sessions.
SMA-200, price is at $86.45, which acts as another strong support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.
MACD indicator (VERY BULLISH), bullish crossover signal line spotted on February 20, 2021, indicated a strong buy signal in the coin during the trading session. Also, it denotes green bars on Histogram.
The RSI indicator (OVERBOUGHT) with a value of indicates a strong buy signal in the coin. One can observe a decrease in value in future trading sessions because it is overbought.
Binance coin price is up by 13% on Friday’s trading session. The price is above the SMA of $86.45. Investors can expect the movement of price may cool down while looking at the current market situation. All technical indicators recommend a strong buy signal in the coin.
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