Binance Coin (BNB) Reflects Immense Growth Overnight; Resistance Seems Likely Around $18.31

Published by Cyber Flows on

Binance Coin has managed to get a huge yield of 9.10% over the last 24 hours, and at the time of writing this analysis, the coin was constantly trying to breach the $18 price mark. As per the current momentum, BNB price may cross its key resistance of $18.31 in the upcoming hours.

Binance Coin Price Analysis

BNB/USD Chart By TradingView

Over the last seven days, the BNB coin has added more than $2 in its value and traveled from $15 to above $17. This immense hike observed over the last two days.

Yesterday, Binance Coin’s price was trading around $16.37 in the initial hour, and over the next 13 hours, the price was up by 5.30% and reached $17.24. This upside momentum further intensified, and the following swing took the value to $18.31 by 04:00 UTC today.

After hitting the $18 price mark, the currency faced rejection and fell to $17.86 at the time of penning down. However, Binance Coin’s current value has already surpassed the 20 days MA ($17.73) and 50 days MA ($17.46). After testing the $17.5 resistance point, the BNB price might touch the next resistance at $18.31 in the upcoming hours. The RSI of the coin indicates no extremities, but it inclined upwards with indicates bullish signals.

Resistance and Support Levels

Resistances – $17.90, $18.31, $19.08

Supports- $16.72, $15.95, $15.54

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