BNB Bulls take control and demand $ 460, what will come next?

BNB Bulls take control and demand $ 460, what will come next?

key support level: $ 460

key resistance level: $ 526; $ 690

Binance Coin (BNB) has increased by 22% in the last four days when the news became known that Binance, the world's largest crypto exchange, will invest 1 billion US dollar in the Binance Smart (BSC) ecosystem.

after the

Chart according to Tradingview

indicators

volume: We saw an excellent volume during the outbreak, which confirms that the movement is sustainable. We can probably expect the price to move further towards the first resistance. It is important to pay great attention to the volume, since increasing the volume is extremely bullish when moving upwards.

rsi: The RSI in the daily time frame reaches higher maximum, which is good news for bulls, since it is still quite far from the overbought area (RSI> 70). This shows that the price has a lot of scope to move upwards.

macd: both the sliding average and the histogram of the daily time frame reach higher maximum stands and the MacD has been on the positive side since the beginning of October. At the moment there is nothing to suggest that the trend could turn around. This can be seen as very bullish.

Chart after tradingview

bias

The tendency is currently bullish. At $ 460, a large resistance brand was broken, the price has successfully converted it into support, and now it continues. This action corresponds to a real outbreak.

In addition, in view of the news that Binance will invest $ 1 billion in the BSC ecosystem, it is currently quite difficult to be pessimistic. This tendency is only re-evaluated if we fall under the $ 460 mark.

Short -term price forecast for BNB

The real goal for this rally is $ 690. If we succeed in breaking this level, the BNB will get into the pricing and the price could increase even higher.

The above analysis was written by du09 .

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