Convergence

bullish

Reversal

<p>The post <a href="https://coinpedia.org/price-analysis/binance-bnb-price-prediction-major-reversal-triggered-eyes-to-hit-635/" rel="noopener noreferrer nofollow">Binance (BNB) Price Prediction: Major Reversal Triggered, Eyes To Hit $635?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Amid the ongoing market turmoil, the Binance price has continued hovering close to its resistance/support level of $543, indicating a weak price action for the altcoin. However, the market sentiments display increased positive influence, indicating a potential bullish reversal in the coming time.</p>
<p>With questions like “Will Binance Reach $1,000?” and “How high will the BNB price go?”, are you planning to invest in this altcoin for the upcoming crypto bull run?</p>
<p>Scroll down to uncover the market sentiments, price action, and potential short-lived price targets of the Binance (BNB) crypto token.</p>
<h2 class="wp-block-heading" id="h-bnb-coin-price-on-the-verge-of-a-major-breakout">BNB Coin Price On The Verge Of A Major Breakout?</h2>
<p>With the rising volatility in the crypto market, the <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Binance price</a> has added approximately 2% within the past day with a trading volume of $1.759 Billion. Further, it has added approximately 9% within the past day and has a Year-to-Date (YTD) return of 66.67%.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcEB60I0KtlQ4D6ZLfp6HIJ3Fu7y7Ip6IO0MbMjRX5FFfyXWhu_bixyMeA9POk6ZpgfrXLMVWspXrjz4qnUVf6tCIujUIt5P22fzPfMC_aaTPNdh_iDNrbj019hUkTGIFXvcTW_FaDyvzkUdB3Dv-vRjpOT?key=7mqrI80pGSmwHnU--uj3bw" alt="Binance Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: BNB/USDT
 </figcaption>
</figure>
<p>Moreover, it has formed a falling wedge pattern in the 1D time frame and continues to trade within it. Further, it has also formed a triangle pattern in the longer time frame and the support trendlines of the 2 patterns have coincided forming a strong support.</p>
<p>With a trading price of $521.6 and a circulating supply of 145,936,453 BNB tokens, it has secured the position of the 3rd largest cryptocurrency with a market capitalization of $75.986 Billion.</p>
<h2 class="wp-block-heading" id="h-binance-market-sentiments">Binance Market Sentiments:</h2>
<p>The SMA indicator has recorded a bullish curve in the <a href="https://markets.coinpedia.org/bnb/" target="_blank" rel="noopener noreferrer nofollow">BNB price</a> chart, highlighting an increase in the positive influence of the altcoin in the crypto space.</p>
<p>Further, the Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram with its averages showing a high possibility of a bullish convergence. This suggests that the altcoin will continue gaining value in the coming time.</p>
<h2 class="wp-block-heading" id="h-will-bnb-price-go-up-again">Will BNB Price Go Up Again?</h2>
<p>If the market continues trading on a bullish note, the Binance token price will prepare to test its resistance level of $543. Furthermore, if the bulls hold the price at that level, this altcoin will surge toward its upper high of $635 during the upcoming weeks.</p>
<p>On the flip side, if the bears regained power over the bulls, the BNB coin price could retest its crucial support level of $454.5 this month.</p>

Binance (BNB) Price Prediction: Major Reversal Triggered, Eyes To Hit $635?

Table of Contents

CoinPedia News

Other articles published on Aug 13, 2024

Is Altcoin Season Near? 3 Must-Buy Altcoins Before It’s Too Late

Pennsylvania Professor Jeremy Siegel Urges Immediate 0.75% Rate Cut Amid Global Market Crash

Don’t Miss Out: Grayscale’s New MakerDAO Trust Promises Big Gains for Crypto Investors!

Hive Digital sales up 36% as Bitcoin miner forays into AI compute

Cryptocurrency Market Sees Major Losses

CleanSpark Expands Mining Fleet with $167M Bitmain Miner Purchase

Join our free newsletter for daily crypto updates!