TL;DR Breakdown
Binance Coin price analysis is bullish today.BTC/USD saw further upside tested yesterday.The $400 major resistance is currently tested.
The Binance Coin price analysis is in a solid position today, with prices steadily rising toward the previous swing high of $400. Momentum appears to be strong, suggesting that ETH/USD will soon break even higher. Meanwhile, the BTC/USD pair is still consolidating within a large symmetrical triangle pattern. A decisive breakout could happen soon, with bullish momentum likely to take over.
The market has been advancing nicely over the past few days and it looks as if Binance Coin will be able to break the $400 resistance level in the near future. The BTC/USD pair is also showing bullish signs and might be gearing up for a big breakout soon. Keep an eye on these markets.
Binance Coin price movement in the last 24 hours: Binance Coin rallies towards $400 next resistance
The Binance Coin price has been on a tear over the past few days, rising from $340 to $400 in a matter of days. The market is currently testing the previous swing high, which could act as resistance. However, momentum appears to be strong, so a breakout is likely. If prices do break out, they could rise quickly to $450 or higher.
On the downside, support is found at $380 and $360. Below this, further support is located at $340 and $320.
BNB/USD 4-hour chart: BNB ready to break higher?
On the 4-hour chart, the $400 mark is still being tested by Binance Coin’s price action, suggesting that a rise is likely soon. The RSI is indicating overbought conditions, but this could be overcome as the market has been in an uptrend for some time now. The MACD is also bullish and pointed upward, suggesting that more upside is in store.
BNB/USD 4-hour chart. Source:Â TradingView
The MACD histogram is also bullish, with the blue line crossing above the red line. This indicates that the bulls are in control and that further gains are likely.
The BNB/USD pair has been consolidating within a large symmetrical triangle pattern for the past few weeks. A decisive breakout could happen soon, with bullish momentum likely to take over. The RSI is indicating overbought conditions, but this could be overcome as the market has been in an uptrend for some time now. The MACD is also bullish and pointed upward, suggesting that more upside is in store.
A bounce followed immediately, with Binance swiftly pushing to $385 resistance and rising without hesitation. As a result, the market once again confirmed bullishness.
The Binance Coin price rose from $392 to around $400 in the early hours of April 4, before declining back down to previous resistance. Later that day, strong momentum was resumed, resulting in the current resistance at $400 being challenged.
Binance Coin price analysis: ConclusionÂ
Binance Coin price analysis is favorable today, as consistent gains have been made over the last days. As a result, the current resistance of $400 will be overcome soon, allowing BNB/USD to rise significantly further later in the weekend.
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