BNB Price Prediction: Binance Coin tiptoes back to the green ahead of 18% upswing to $372
- Binance Coin crawls back in the green, accruing nearly 2% in gains.
- BNB awaits an 18% boost following the formation of an ascending triangle pattern.
Binance Coin trades around $305 at the time of writing, following a minor bullish push on the second day of this week’s trading. The uptrend follows lock-step trading action across the cryptocurrency market. If the technical picture remains the same or improves, we will likely see BNB price significantly bolstered upward.
Binance Coin price technical picture rejuvenates for a significant upswing
The four-hour chart brings to light an ascending triangle. This is a highly bullish technical pattern formed amid an asset consolidation in the wake of a major price movement. A couple of trend lines are drawn, one connecting a series of sequential higher lows and the other linking the relatively equal peaks.
As the trend lines converge, consolidation prevails accompanied by low trading volume. The ascending triangle is only verified when the price breaks above the horizontal (x-axis) resistance. Realize that, triangles have exact breakout targets equal to the distance between the widest points of the patterns. For example, Binance Coin may breakout 18% to exchange hands at $372.
BNB/USD four-hour chart
A golden cross pattern validates the expected breakout. This bullish formation appears when a shorter-term moving average crosses above a longer-term moving average. The BNB chart highlights an impending golden cross as the 50 Simple Moving Average (SMA) crosses above the 100 SMA.
According to the relative Strength Index (RSI), bulls have the upper hand. A break above the midline, added credence to the ongoing recovery. Note that a daily close above $305 will allow bulls to take control entirely.
Binance Coin price intraday levels
- Spot rate: $305
- Trend: Bullish
- Volatility: Expanding
- Resistance: $310
- Support: $300
- Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
- 99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
