Binance Coin (BNB) demonstrates resilience as bulls maintain control, pushing prices closer to key resistance levels amid steady market momentum.
Market analysis reveals that despite limited volatility expected in the short term, BNB’s price action suggests potential for a breakout above $697, signaling bullish sentiment.
According to CoinStats, “Bulls are giving no chances to bears on the last day of the week,” emphasizing strong buyer dominance in the current market phase.
BNB price edges up by 0.55%, approaching critical resistance near $697 with potential to test $720-$740 range, highlighting bullish momentum in crypto markets.
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The Binance Coin (BNB) market has shown a modest increase of 0.55% over the last 24 hours, reflecting steady buying interest. On the hourly chart, BNB is trading close to a significant resistance level at $693. Given that most of the Average True Range (ATR) for the day has already been consumed, the likelihood of heightened volatility before the next trading session appears limited. This suggests a consolidation phase as traders await a decisive move.
From a broader perspective, recent bullish bars indicate that buyers are attempting to regain momentum following a period of sideways movement. Should BNB successfully break through the resistance at $697.73, it could pave the way for further upward movement, potentially surpassing the psychological $700 mark. This breakout would be a critical signal for traders looking to capitalize on bullish trends.
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Source: https://en.coinotag.com/binance-coin-bnb-nears-key-resistance-with-potential-for-further-gains-next-week/