September 30, 2022

Binance Coin Price Analysis: BNB Goes Parabolic With 150% Weekly Gains, What’s Next?

2 min read

BNB/USD – – Bulls Set Fresh ATH Near $150.

Secret Support Levels: $110, $105, $100.
Secret Resistance Levels: $130, $137.70, $148.37.

Binance Coin has definitely exploded this week after rising by a total of 149%. The coin was trading at simply $50 a couple of days earlier as it began to press higher to reach $80 on Monday.

From there, it started to turn exceptionally parabolic as it broke past $100 yesterday and continued greater today to set a brand-new ATH rate at $148.37 (1.618 Fib Extension).

This type of growth for a top-20 ranked cryptocurrency is really remarkable. The cryptocurrency has actually now climbed into the 7th position as it holds an $8.5 billion market cap.

BNB/USD Daily Chart. Source: TradingView BNB-USD Short Term Price Prediction Moving on, – the very first level of resistance lies at $130. This is followed by $137.70(1.414 Fib Extension )and $148.37(1.618 Fib Extension). Beyond $150, additional resistance lies at$160, $170.94(1.272 Fib Extension – orange), and $182.87 (1.414 Fib Extension – orange). On the other side, the

first assistance lies at $ 110. This is followed by $ 105(.382 Fib), $ 100, and $ 91.65(.5 Fib ). Additional support lies at $ 78.22 (.618 Fib ). The RSI is now in incredibly overbought conditions above 80, suggesting the bulls might be a little overextended right now. BNB/BTC – Bulls Recover to Septmeber 2020 Highs. Secret Support Levels: 0.00265 BTC, 0.0024 BTC, 0.00216 BTC.
Key Resistance Levels: 0.003 BTC, 0.000316 BTC, 0.00034 BTC.

BNB is likewise performing extremely well against Bitcoin. During Q4 2020, BNB was in a consistent decrease as it fell from 0.0022 BTC to reach as low as 0.00123 BTC by the years’ end. It continued to dip lower in January until support was discovered at 0.00107 BTC.

At the start of February, BNB was trading at around 0.0015 BTC. The other day, it surged greater to break above the 200-days EMA and 0.002 BTC to reach as high as 0.0025 BTC. Today, the price surge continued further as BNB drove past the 2018 highs at 0.00265 BTC to reach the September 2020 highs at 0.00316 BTC.

It has actually since dropped lower and is trading around 0.00278 BTC.

< img class="size-full wp-image-103827" src="" alt="bnbbtc-feb10" width="2908" height="1884" srcset=" 2908w, 300w, 1024w, 768w, 1536w, 2048w, 50w" sizes =" (max-width: 2908px )100vw, 2908px"/ >

BNB/BTC Daily Chart. Source: TradingView BNB-BTC Short Term Price Prediction

Looking ahead, the very first level of resistance is located at 0.003 BTC. This is followed by 0.00316 BTC (September 2020 high), 0.0034 BTC (1.272 Fib Extension), 0.00353 (1.414 Fib Extension), and 0.00371 BTC (1.618 Fib Extension).

On the other side, the very first support lies at 0.00265 BTC (2018 High). This is followed by 0.0024 BTC (.382 Fib), 0.00216 BTC (.5 Fib), and 0.002 BTC.

The RSI has actually likewise gotten in the exceptionally overbought territory, showing the bulls may be a little overextended today.