BNB Recovers From $300 Support To Challenge $360

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  • In the previous 24 hours, Binance Coin’s (BNB) price has increased by 1.63 percent.
  • The price of BNB has also increased during the last week, rising 11.18 percent.
  • BNB’s weekly chart indicates that the outlook is trending optimistic.

According to CoinMarketCap, Binance Coin (BNB) gained 1.63 percent in the previous 24 hours, bringing its price to $333.96. The price of BNB has increased by 11.18 percent in the last seven days.

The price of BNB is hovering around $313.55, close to its 24-hour high of $336.67. Its value has also increased by 0.80% compared to Ethereum (ETH). However, at the time of writing (7:15 AM GMT +2), BNB was down 0.84 percent against Bitcoin (BTC). BNB is now worth 0.01111 Bitcoin and 0.1667 Ethereum.

RSI approaches signal line (Source:TradingView)

BNB is now ranked #4 on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, with market size of $54,487,339,659. The daily trading volume of BNB has decreased by 12.59 percent during the last day. This brings the overall trading volume for the day to $2,044,051,118.

The weekly chart of BNB/USDT indicates that the outlook for Binance Coin is improving. The RSI line is currently closing in on the RSI SMA line. If the RSI crosses above the RSI SMA, we can confirm that Binance’s two-week positive trend will continue.

The price of BNB, on the other hand, is approaching the 8 EMA. This line could operate as a resistance level. The 20 EMA will be the next target if the price crosses above the 8 EMA. The RSI may then only cross above the RSI SMA.

BNB’s price now has a support level of $300 and a resistance level of $400.

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