A positive trend has been prevailing on the charts for the past few days, according to the most recent Binance Coin price analysis. The price has increased over the past 24 hours as well, which is quite positive for buyers. Since the bulls have been able to effectively sustain the upward trend line, the price has increased to the $332 level. Even if the price fell yesterday, the trend for today is once again optimistic. But the price hasn’t yet crossed over yesterday’s rejection level.
BNB/USD 1-day price chart: Bullish rally takes the price up to $332
As the BNB/USD pair is currently changing hands at $332 at the time of writing, the 1-day price chart for Binance Coin price analysis demonstrates that the price has been rising today. Due to the positive momentum, BNB/USD has increased by 1.26 percent over the past 24 hours, while BNB reports gains of 7.79 percent over the previous week. Despite a continued decline in trading volume of 41%, the market capitalization has climbed by 1.28 percent in the last day.
BNB/USD 1-day price chart. Source:Â Tradingview
On the one-day price chart, the moving average (MA) value is $319. The lower Bollinger band is touching the $285 point representing the support, while the upper Bollinger band is touching the $333 point representing the resistance. The Bollinger bands average is still at $309 at this time. At the edge of the oversold region, the Relative Strength Index (RSI) score has been steadily fluctuating around index 70.
Binance Coin price analysis: Recent developments and further technical indications
Given the large price increase, the four-hour Binance Coin price analysis indicates a bullish trend. Given that bears had earlier taken the lead on the price chart, the price breakout was downward. Nevertheless, a positive trend has been seen over the past four hours as the price has risen to the $332 level from its previous high. As a result of the recent bullish push, the price is rising toward the volatility indicator’s upper limit, leaving the moving average (MA) value below $330
BNB/USD 4-hours price chart. Source:Â Tradingview
The top Bollinger band value on the four-hour price chart is $334, while the lower Bollinger band value is $322, indicating a moderately high level of volatility. The RSI score, which is in the neutral zone but moving upward at index 63, indicates the recent buying impulse.
Binance Coin price analysis conclusion
The market has been moving upward for the day, according to the one-day and four-hour Binance Coin price analysis. After a spike in price was noticed in the previous four hours, the price has significantly increased and is currently approaching the $332 threshold. We anticipate BNB to surpass the $332.7 level of local resistance.
