search
Homeweb3.0Binance Coin (BNB) Price Prediction: Will BNB Surpass $600 Resistance Level?

Binance Coin's [BNB] price has shown robust bullish momentum of late. At press time, it was trading at $585.40, reflecting a daily rise of 4.49%.

Binance Coin (BNB) Price Prediction: Will BNB Surpass 0 Resistance Level?

Binance Coin’s (BNB) price action has shown signs of bullish momentum recently, with the coin trading at $585.40 at the time of writing, showcasing a daily rise of 4.49%.

This surge in BNB’s price has brought it closer to the $600 resistance level.

However, the coin’s movement in either direction from this price point could be influenced by key technical levels and market conditions.

BNB’s market capitalization also experienced growth, totaling $84.36 billion at the time of writing, with a 4.49% increase over the last 24 hours.

This metric, which measures the total market value of a cryptocurrency, showed a positive shift in BNB’s market performance.

As trading interest heightens, there could be a continued uptrend on the horizon for the altcoin.

Chart: TradingView

BNB price traders may observe a crucial support level at $570, which has acted as a pivot point in the past.

If prices slip below this level, traders could anticipate a potential downtrend, with lower support levels at $560 and $550.

On the other hand, if BNB manages to break past the $600 resistance, higher resistance levels lie at $620 and $640.

Key technical levels to consider for BNB

BNB’s 4-hour chart provides a closer look at the coin’s price movements and key technical levels.

BNB displayed a 3.49% price increase to $582.86 over the past day, showing a consistent upward momentum.

The Relative Strength Index (RSI) rested at 51.61, signaling a neutral sentiment in the market. Although there is some buying pressure, the RSI showed no immediate signs of extreme movement, leaving room for BNB’s price to maneuver either way.

The Chaikin Oscillator for BNB price displayed a negative reading at -35.529K, signaling limited buying accumulation within the market. This indicator often points to reduced capital inflow, which may impact the durability of current bullish trends.

Consequently, the lack of strong accumulation could be a caution for short-term bulls seeking stronger support.

While the oscillator suggests a conservative approach, monitoring shifts in buying activity remain essential.

If BNB’s momentum gains additional backing, it may overcome this indicator’s warning signal, supporting further price increases.

However, this metric could curb strong upward movements without a shift in market liquidity, particularly for short-term traders.

Chart: TradingView

BNB торгов торгов traders may find the Bull Bear Power (BBP) indicator interesting, which was slightly positive at 1.5, indicating a mild upward bias in BNB’s trading range.

This slight positive reading showed that BNB was trading within the upper hand, suggesting that the current bullish sentiment may continue.

Traders may use this observation in their strategies as BNB approaches the $600 resistance level.

BNB’s 4-hour liquidation map reveals a concentration of short positions near $583.1, which could drive price volatility in the coming hours.

The map highlights a gradual buildup of short positions that could face liquidation pressure if prices rise above $590.

Below $570, we can observe a cluster of long liquidations, indicating that price drops could trigger a cascade of long positions closing.

High-leverage positions, especially those at 50x leverage, cluster around $575 and $594, highlighting price points of heightened market risk.

If BNB moves strongly in either direction, these clustered positions may drive further volatility, with the potential for a series of liquidations.

This setup suggests that any substantial price movement near these levels could prompt significant price action in the near term.

The above is the detailed content of Binance Coin (BNB) Price Prediction: Will BNB Surpass $600 Resistance Level?. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Pei Pei (PEIPEI) and Binance Coin (BNB) Ascend, While BlockDAG (BDAG) Stuns With Technological EdgePei Pei (PEIPEI) and Binance Coin (BNB) Ascend, While BlockDAG (BDAG) Stuns With Technological EdgeJul 27, 2024 am 09:10 AM

Pei Pei (PEIPEI), taking inspiration from the beloved Pepe The Frog meme, has drawn significant attention thanks to its recent value increase

Solana (SOL) Price Prediction: AI Predicts SOL’s Record High Price Could Hit $600 or Even HigherSolana (SOL) Price Prediction: AI Predicts SOL’s Record High Price Could Hit $600 or Even HigherJul 28, 2024 am 03:05 AM

Solana (SOL) is currently among the standout cryptocurrencies, recording significant buy pressure as the token seeks to breach new highs.

BNB Resumes Bullish Movement After Undergoing a Retracement Phase, Eyes $721.8 HighBNB Resumes Bullish Movement After Undergoing a Retracement Phase, Eyes $721.8 HighNov 14, 2024 pm 06:10 PM

Following the current drop across the crypto space, BNB bounced back from a critical trading zone after initiating a small pullback yesterday.

Binance Coin (BNB): A Comprehensive Guide to Its Role in the Binance Ecosystem and BeyondBinance Coin (BNB): A Comprehensive Guide to Its Role in the Binance Ecosystem and BeyondAug 08, 2024 am 12:19 AM

Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, launched in July 2017 through an Initial Coin Offering (ICO). Initially issued as an ERC-20 token on the Ethereum blockchain, BNB has since migrated to Binance's own blockchain,

Binance Coin (BNB): A Comprehensive GuideBinance Coin (BNB): A Comprehensive GuideAug 11, 2024 am 12:38 AM

Binance Coin (BNB) was launched in July 2017 by Binance, one of the largest cryptocurrency exchanges globally. Initially created as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance Chain, the proprietary blockchain developed

XRP and Binance Coin (BNB) Emerge as This Monday's Outperformers, Overshadowing Bitcoin (BTC) and Ethereum (ETH)XRP and Binance Coin (BNB) Emerge as This Monday's Outperformers, Overshadowing Bitcoin (BTC) and Ethereum (ETH)Aug 20, 2024 pm 09:19 PM

In a significant development, two of the top 10 cryptocurrencies on the market, Binance Coin (BNB) and XRP, have emerged as the outperformers this Monday

Bitcoin (BTC), Binance Coin (BNB), and Shiba Inu (SHIB) Among the Best Altcoins to Look Out for in the MarketBitcoin (BTC), Binance Coin (BNB), and Shiba Inu (SHIB) Among the Best Altcoins to Look Out for in the MarketNov 19, 2024 pm 06:52 PM

Inspired by the “Trump Pump” Bitcoin has skyrocketed to a new all-time high (ATH) above $93k. The total crypto market cap has reached $3.2 trillion

Binance Coin (BNB) Faces Critical Juncture as Market Grapples With Renewed Bearish PressureBinance Coin (BNB) Faces Critical Juncture as Market Grapples With Renewed Bearish PressureAug 13, 2024 am 09:14 AM

With Bitcoin struggling to breach the $60,000 mark, altcoins, including BNB, face mounting challenges in sustaining their recent recovery runs.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

Hot Tools

PhpStorm Mac version

PhpStorm Mac version

The latest (2018.2.1) professional PHP integrated development tool

MantisBT

MantisBT

Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

SublimeText3 Linux new version

SublimeText3 Linux new version

SublimeText3 Linux latest version

SecLists

SecLists

SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function