Binance coin has finally hit an ATH after a surge of nearly 15% on April 2, 2021. The ATH of BNB now stands at $356.78, slightly higher than its previous ATH of $351.
The CEO of Binance shared his thoughts on Twitter about BNB hitting ATH.
Many others took to Twitter predicting the trend of BNB to continue and could hit $400 soon. The Binance coin(BNB) which fuels the Binance ecosystem, pays gas fees and can also be used to avail real-world services. Due to this wide range of applications, the investors poured in and started investing in the February Bull markets.
Binance Coin(BNB) Price Analysis
Binance coin is trading at $353.71 up by 13.55% as per CoinMarketCap data on April 2, 2021. BNB boasts a Market capitalization of $54,683,497,547, with $4,591,185,196 worth volumes traded in the last 24 hours. The trading volumes increased by 43.64% compared to the previous trading session.
The BNB price is holding at the $350 level and is currently in an ascending Parallel Pattern. It may experience selling pressure and could drop below to support at $340 and $330 levels, which are expected to provide good support.
Looking at the 30 minutes candle chart, the formation of the ascending Parallel Pattern, which is a bullish indication. Resistance at $356 levels, ATH and further up at $360 could again try and stop the uptrend.
If the BNB crosses the previous high at $356, it could create a new ATH. The sudden rise in the transaction volumes can complement this bullish momentum.
The Technical Indicator, RSI lies at 70, at the overbought zone. MACD levels are bearish, and a strong momentum is inevitable shortly after the accumulation period. Bollinger bands are at decent levels, with the prices trading at upper band support.
It is also possible that the sell-off situation could trigger a drop in prices to the support levels at $340. But looking at the markets, the sentiment is bullish and experts are suggesting that the BNB could break its ATH soon.
Resistance Levels: $356.5, $360
Support Levels: $340, $330
RSI(14): 70
MACD: Bullish
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Source: https://coinpedia.org/price-analysis/bnb-price-analysis-binance-coin/
