Binance Coin price analysis: BNB hits new all-time high above $400

   2021-04-08 09:04

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.

BNB/USD hourly chart. Source: TradingView

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.


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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin59,731 0.31 % 1.35 % 4.68 %
Ethereum2,149.9 0.49 % 0.50 % 6.61 %
Binance Coin471.72 0.65 % 2.78 % 47.17 %
XRP1.380 0.79 % 18.63 % 138.79 %
Tether1.000 0.02 % 0.02 % 0.05 %
Polkadot40.70 0.61 % 2.99 % 2.40 %
Cardano1.220 0.54 % 1.11 % 4.48 %
Litecoin258.69 1.61 % 11.22 % 32.18 %
Uniswap29.95 0.80 % 1.02 % 1.51 %
Stellar0.6127 0.60 % 19.13 % 49.62 %
Chainlink32.68 0.61 % 0.54 % 11.48 %
Bitcoin Cash692.55 0.31 % 5.35 % 29.99 %
Theta Network12.20 0.15 % 5.52 % 6.72 %
Filecoin178.26 0.09 % 1.46 % 0.54 %
USD Coin1.000 0.20 % 0.27 % 0.68 %
Dogecoin0.07664 2.98 % 20.30 % 36.39 %
VeChain0.1406 0.05 % 2.73 % 58.12 %
Wrapped Bitcoin59,775 0.23 % 1.35 % 4.76 %
TRON0.1209 0.29 % 0.08 % 18.98 %
Solana26.12 0.30 % 6.21 % 15.58 %