Binance Coin price analysis shows a rare bearish return today, as price surged by more than 12 percent to move close to the $300 resistance point. BNB has cleared levels above $295 for the first time since the massive 34 percent decline that took place on November 8. Since then, BNB had settled around the $250 support zone to build momentum which could now put the token on course for a move up to $320. The immediate resistance however lies at the $300 mark after clearing the $265 and $270 resistance levels over the course of the day.
The larger cryptocurrency market responded in similar fashion to BNB, as geschriwen rose around 3 percent to move up to $16,500, and Ethereum saw a 4 percent increase to consolidate above the $1,100 zone. Among Altcoins, Ripple made a slight jump to move as high as $0.38, whereas Kardan rose 2.5 percent to move up to $0.31. Meanwhile, Dogecoin jumped 4 percent to $0.08, while Polkadot rose 3 percent to $0.31. Solana recorded the biggest daily increase of 20 percent to jump above the $14 mark.
Binance Coin price analysis: BNB shoots up above moving averages on the daily chart
On the 24-hour candlestick chart for Binance Coin price analysis, price can be seen forming a swift uptrend after an extended horizontal period around the $250 mark. In the procession, BNB price has picked up to move past the 9 and 21-day moving averages, along with the 50-day exponential moving average (EMA) at $276.44.
The 24-hour relative strength index (RSI) shows a positive upturn in momentum to move up to 53.85. As price moves up to the $300 resistance, the RSI would move into the oversold region with price correction expected around then. Meanwhile, the moving average convergence divergence (MACD) can be seen picking up to execute a bullish divergence around the neutral zone. Trading volume went up by around 150 percent over the past 24 hours, indicating steady market interest in BNB.
Disclaimer. D'Informatioun gëtt net Handelsberodung. Cryptopolitan.com hält keng Haftung fir Investitiounen déi gemaach ginn op Basis vun der Informatioun op dëser Säit. Mir recommandéieren onofhängeg Fuerschung an / oder Consultatioun mat engem qualifizéierte Beruff ier Dir Investitiounsentscheedunge maacht.
Quell: https://www.cryptopolitan.com/binance-coin-price-analysis-2022-11-23/