BNB Price Halts At $250, Eyes Breakout Rally Beyond $300!
The post BNB Price Halts At $250, Eyes Breakout Rally Beyond $300! appeared first on Coinpedia Fintech News
Following the consolidation range breakout, the BNB price continues the uptrend with the market-wide recovery. With Bitcoin sustaining above the $35,000 mark, the market recovery helps the biggest centralized exchange regain bullish momentum.
The Binance coin price is slowly overcoming the bearish sentiments due to regulatory concerns, reclaiming crucial price levels. Teasing a further bullish boost, the Binance price predictions are optimistic for the coming years.
Source – Tradingview
Taking a bullish stand at the psychological mark of $200, the BNB price ignites a strong bullish reversal, accounting for a 20% hike. The Binance price boosts beyond the $230 supply zone by giving a range breakout to end the sideways trend.
Moreover, the increasing market value surpasses the 50-day and 200-day EMAs within a month. This increases the likelihood of a golden crossover event and teases an uptrend continuation with improved sentiments around Binance.
However, the BNB price action displays a bullish failure to surpass the $257 supply zone, resulting in a dip to the 200D EMA. Nevertheless, the buyers regain momentum with a morning star pattern and tease a reversal.
Currently, the BNB price trades at $246 with an intraday rise of 1.69%, showcasing a high possibility of a $257 breakout.
Technical Indicators:
EMA: As the Binance market price improves, the 50D EMA closes the gap between the 200D EMA, teasing a bullish crossover.
RSI indicator: The daily RSI line dips from the overbought zone to the halfway line but spikes again, reflecting a bullish comeback.
Will Binance(BNB) Price Reach $300?
The BNB price continues an uptrend by overcoming the year-to-date fall of 17% in September to the breakeven level today. Further, the uptrend momentum rises and teases a crack above the $257 mark to prolong the uptrend to $300.
Conversely, a reversal from $250 will lower the Binance coin price to $230.
Filed under: Bitcoin - @ November 15, 2023 9:16 am