BNB/USD Recovers Above $300 Level

The Binance Coin price prediction begins a decent recovery wave above $300 as the coin approaches a major hurdle near $310.

Binance Coin Prediction Statistics Data:

• Binance Coin price now – $299.7
• Binance Coin market cap – $22.86 billion
• Binance Coin circulating supply – 22.8 billion
• Binance Coin total supply – 22.5 billion
• Binance Coin Coinmarketcap ranking – #6

BNB/USD Market

Key Levels:

Resistance levels: $370, $390, $710

Support levels: $250, $230, $210

BNB/USD is in the hands of the bulls as the coin crosses above the 9-day and 21-day moving averages. However, due to a lack of buying power, the bulls may need to gather enough energy to push the Binance Coin price toward the upper boundary of the channel. The technical indicator Relative Strength Index (14) is moving above the 50-level with the signal line pointing to the east, suggesting sideways movement.

Binance Coin Price Prediction: Binance Coin May Spike to the Upside

Looking at the daily chart, the Binance Coin price is ready to break into the upside as the 9-day MA is likely to cross above the 21-day MA. However, the more the bulls pressurized the bears, the higher the coin would reach. Therefore, if the bulls maintain the upward trend, BNB/USD may continue with the bullish movement which could take the coin to the resistance levels of $370, $390, and $410.

On the other hand, any strong selling pressure could drag the price below the moving averages, and should BTC trade below the daily opening price of $298.6, a bearish movement could take the price to the support levels at $250, $230, and $210.

Against Bitcoin, the Binance Coin is above the 9-day and 21-day moving averages as the bulls increase their entries within the market. At the time of writing, the Binance Coin price has not been able to push the price above the upper boundary of the channel as it is currently trading at 1807 SAT. If the Binance Coin signals a bullish rally, it may likely meet resistance at 2000 SAT and above.

Looking at the daily chart, traders can see that the market may maintain the bullish movement as the technical indicator Relative Strength Index (14) moves to cross into the overbought region. Meanwhile, any bearish movement below the moving averages could hit the support at 1600 SAT and below.

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