3 months ago 1 min read

19th of December Price Analysis on Binance Coin (BNB)


Out of the top 10 coins, Binance Coin (BNB) has had the largest gain, increasing by 1.03% in the last day.

The price of Binance Coin (BNB) has recovered from the $245.7 local support level on the hourly chart. The resistance was set at $252.1 at the time. Since the price is currently near the channel's middle, it is unlikely that we will see any sudden movements before the day's finish.

The price of Binance Coin (BNB) is trading within yesterday's candle on the larger chart, building momentum for the subsequent rise. The declining volume on the daily time scale further supports sideways trading. Currently, traders should keep an eye on the closest resistance around $254.2 because a breakout there might trigger a test of the $265-$270 region soon.

On the daily chart, Binance Coin (BNB) is trading similarly to Bitcoin (BTC), as bulls were unable to maintain the increase following the challenge of the 0.015 level. However, if that occurs, the upward movement can continue until the resistance level at 0.015609 is tested.

The price of BNB is $246.4 as of this writing.

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