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Binance coin price remained in a strong uptrend above the $24.00 and $26.00 levels. BNB price recently traded to a new high above $30.00 and it is likely to continue higher in the near term.

  • Binance coin price traded to a new all-time high above $30.00 and it is currently consolidating.
  • There is a crucial bullish trend line forming with support near $27.00 on the 2-hours chart.
  • BNB price remains well bid near $27.00 and it is likely to rally further above $27.00.

Binance Coin Price

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Binance Coin Price Analysis (BNB to USD)

After a daily close above the $20.00 and $22.00 levels, binance coin price climbed higher steadily above the $25.00 resistance area. The recent rise in bitcoin, Ethereum and ripple also sparked more upsides in BNB above the $27.00 and $28.00 levels.

Binance Coin Price Analysis BNB Chart

Click to Enlarge Chart

Looking at the 2-hours chart of BNB/USD, the pair traded to a new all-time high above $30.00 and recently started a short term downside correction.

There was a break below the $29.20 support and the 23.6% Fib retracement level of the latest upward move from the $22.69 low to $30.41 high. The price is currently trading near the $28.50 level and the 25 simple moving average (2-hours).


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On the downside, there is a strong support formed near $27.00. There is also a crucial bullish trend line in place with support near $27.00 on the same chart. Moreover, the 50% Fib retracement level of the latest upward move from the $22.69 low to $30.41 high is near the $26.55 level to act as a support.

Therefore, the price remains well bid near the $27.00 and $26.50 levels. If there is a downside break below the $26.50 support area, there is a risk of an extended drop below the $25.60 support.

The next key support is at $24.50 plus the 76.4% Fib retracement level of the latest upward move from the $22.69 low to $30.41 high. Conversely, if the price stays above the $27.00 and $26.50 support levels, it is likely to bounce back.

An initial resistance is near the $30.00 level, followed by the $30.40 swing high. A successful break above the $30.40 swing high could push binance coin towards the $32.00 or even $32.50 level.

The market data in the USD is calculated by TradingView, Binance.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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