Binance Coin price analysis: BNB hits new all-time high above $400
BNB price broke above $400 before going on to hit a new all-time high of $414.
Binance Coin surged to its highest price ever of $414, having traded higher and higher over the past several weeks. Yesterday, bulls pushed the BNB price nearly 10% and continued the upward trajectory during the Asian trading session to hit the new peak.
BNB has now reentered the top three on CoinMarketCap with a market cap of $62.6 billion at the time of writing.
Binance Coin price outlook
Binance Coin was trading near $403 at the time of writing, with struggles across the crypto market inviting some downward pressure.
The BNB/USD pair is above a key bullish trend line on the hourly chart, having rebounded off support at the 78.6% Fibonacci retracement level of the upswing from $335 to $414. If bulls break higher, a retest of immediate resistance at $410 could invite more buy-side pressure.
A positively-inclined RSI and a MACD reading above the signal line suggest bulls might not be done yet. If prices breach the barrier at $415, the next target could be $450, with the main resistance in between at the 127.2% Fib level at $436.
On the contrary, if bulls fail to hold BNB above $400, an influx of sell orders could drag it lower. A breakdown beyond the trend line and the 78.6% Fib level ($397) could allow bears to target the robust demand zone near the 61.8% Fibonacci level ($384) and 50% Fibonacci level ($375).
Any extended reversal would risk turning BNB bearish near the hourly 100 simple moving average at $361. If the downside pace picks up momentum here, Binance Coin’s price could retest lows of $340 and $330.
The post Binance Coin price analysis: BNB hits new all-time high above $400 appeared first on Coin Journal.
|CryptoCurrency||USD||Change 1h||Change 24h||Change 7d|
|Bitcoin||0.31 %||1.35 %||4.68 %|
|Ethereum||0.49 %||0.50 %||6.61 %|
|Binance Coin||0.65 %||2.78 %||47.17 %|
|XRP||0.79 %||18.63 %||138.79 %|
|Tether||0.02 %||0.02 %||0.05 %|
|Polkadot||0.61 %||2.99 %||2.40 %|
|Cardano||0.54 %||1.11 %||4.48 %|
|Litecoin||1.61 %||11.22 %||32.18 %|
|Uniswap||0.80 %||1.02 %||1.51 %|
|Stellar||0.60 %||19.13 %||49.62 %|
|Chainlink||0.61 %||0.54 %||11.48 %|
|Bitcoin Cash||0.31 %||5.35 %||29.99 %|
|Theta Network||0.15 %||5.52 %||6.72 %|
|Filecoin||0.09 %||1.46 %||0.54 %|
|USD Coin||0.20 %||0.27 %||0.68 %|
|Dogecoin||2.98 %||20.30 %||36.39 %|
|VeChain||0.05 %||2.73 %||58.12 %|
|Wrapped Bitcoin||0.23 %||1.35 %||4.76 %|
|TRON||0.29 %||0.08 %||18.98 %|
|Solana||0.30 %||6.21 %||15.58 %|