Cryptocurrency markets show a bullish trend as Binance Coin (BNB) edges closer to breaking key resistance levels, signaling potential upward momentum.
Market data from CoinMarketCap indicates that the final trading day of the week leans more bullish than bearish, reflecting growing investor confidence.
According to COINOTAG analysis, a daily close above $651.51 for BNB could trigger a significant rally towards the $660-$670 range, underscoring critical price thresholds.
Binance Coin (BNB) nears crucial resistance at $650, with bullish momentum suggesting a possible surge to $670, according to CoinMarketCap and COINOTAG insights.
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The Binance Coin (BNB) price has demonstrated a modest increase of 0.15% over the past 24 hours, currently trading near the $650.50 mark. On the hourly chart, BNB is positioned to challenge the local resistance at $650.62. A successful breakout above this level could catalyze a swift upward movement, potentially testing the $655 price range in the near term.
From a daily timeframe perspective, the outlook remains cautiously optimistic. Should the daily candle close above the $651.51 threshold, technical indicators suggest a probable extension of the bullish trend, with price targets set between $660 and $670 for the upcoming week. This scenario aligns with the broader market sentiment favoring a continuation of gains.
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Source: https://en.coinotag.com/binance-coin-bnb-may-test-655-resistance-amid-cautious-weekly-bullish-outlook/