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- Binance Coin price analysis suggests return to $600
- The closest support level lies at $560
- BNB faces resistance at the $580 mark
The Binance Coin price analysis shows that the buyers defended the $560 support level causing the markets to observe a bullish takeover for BNB. At press time, BNB has recovered to the $573.00 mark with the bullish momentum rising in recent hours
The broader cryptocurrency market has observed a bearish market sentiment over the last 24-hours as most major cryptocurrencies record negative price movements. Major players include ICP and VET recording a 5.42 and 4.36 percent decline respectively.
Binance Coin price analysis: BNB
The Binance Coin price analysis shows that BNB has been stuck in limbo around the $580.00 price level. Despite making attempts at breaking above and below the level, neither side of the market has been able to initiate a rally at the level. However, as the bulls gain momentum across the short-term charts, the price may start rising again.
Currently, traders should expect the price to observe a bullish breakthrough towards the $600 mark as the short-term technical indicators suggest a bullish takeover across the markets. While the mid-term technical analyses are bearish, it is because they are yet to react to the recent price movements.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.