Binance Coin price analysis today is up as we expect a reversal after failing to drop yesterday. BNB/USD is now likely to be poised to finally hit higher highs and reverse the bear market structure seen last week.
The cryptocurrency market has seen upward momentum in the last 24 hours. Market leaders Bitcoin and Ethereum were up 0.06 and 3.15 percent, respectively. While Avalanche (AVAX) became the best with a gain of almost 10 percent.
Binance Coin price movement in the last 24 hours: Binance Coin resists a drop above 510 USD
BNB/USD is trading in the $511.70 – $535.43 range indicating significant volatility over the last 24 hours. Trading volume increased 20.78 percent to a total of 1.85 billion dollars. The total market cap is now trading at around $88.8 billion, which puts the coin in third place overall.
BNB/USD 4-Hour Chart: BNB Seems Breaking Up?
On the 4 hours chart, we can see the gains picking up this morning, which is likely to lead to gains at the end of the day.
The price of Binance Coin has been dropping steadily for the past few weeks after the 9th. Since then, DOGE/USD has seen two sharp downward moves, with the last hitting its current low around USD 510.
Since then, DOGE has returned, hitting a low of $545. The bearish momentum returned quickly, which led to another slow decline yesterday.
However, further declines were rejected several times, indicating increasing buying pressure in the market. Moreover, some upward momentum has developed this morning which may suggest that we may see a higher high today.
Binance Coin Price Analysis: Conclusion
Binance Coin price analysis today is on the rise as we have seen the resistance to another decline persist overnight. Hence, BNB/USD is likely to hit a higher high in the next 24 hours.
While waiting for Binance Coin to make a move, check out our articles on Pi Wallet, Electrum Wallet, and Celsius Wallet.