The post Binance Coin Makes Progress But Faces The Obstacle Of $667 appeared on BitcoinEthereumNews.com.

Nov 24, 2024 at 18:03 // Price Binance coin (BNB) has made positive progress while maintaining its horizontal trend. BNB price long-term forecast: ranging The altcoin traded below the resistance level in the previous price range of $540 to $640.  On November 6, the cryptocurrency rebounded and rose above the moving average lines. The bullish momentum continued to the high of $667 before retracing back above the 21-day SMA, as reported Coinidol.com previously.  On November 20, the altcoin gained support above the 21-day SMA as bulls bought the dips.  Should Binance coin (BNB) rally on the upside and break the barrier above $667, the market will return to the previous high of $724. If BNB is rejected at its recent high, it will continue to trade above the moving average line but below the barrier at $667. BNB is now worth $658. BNB indicator reading The moving average lines are horizontal and have crossed to the upside. This means that the 21-day SMA is above the 50-day SMA, indicating that the altcoin will continue to move higher. The price action continues to be dominated by doji candlesticks. Technical indicators: Resistance Levels – $600, $650, $700 Support Levels – $400, $350, $300 What is the next direction for BNB/USD? On the 4-hour chart, BNB has started an uptrend after breaking above the barrier at $660. The altcoin has been trading in a narrow range between $600 and $660. Today, the existing price range has been breached. The bulls have broken through the $600 barrier. BNB is rising and approaching its previous high of $724. Disclaimer. This analysis and forecast are the personal opinions of the author, are not a recommendation to buy or sell cryptocurrency, and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in…

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Filed under: News - @ November 24, 2024 10:16 pm