Binance Coin Price Analysis & Prediction (May 17th) – BNB Bounces Off a Triangle’s Boundary Again, Can It Hold Well This Time?

2023-5-18 11:16

Binance (BNB) recently reached a rallying point after witnessing a lot of drawdowns this week. It recovered a bit above $300 and returned 1.4% profit in the past hours.

After painting a lot of reds in the past few days, the last 24 hours of buying increased the price of Binance Coin which just found support on the lower boundary of an ascending triangle. 

Interestingly, the price has increased a little following a quick buy around the triangle’s lower boundary. As a result of that, it trades at around $310 at the time of writing. 

If BNB repeats this same pattern as it did in the previous months, it is likely to experience quick growth in the next couple of days. The upper boundary of the daily triangle would be the target area for buying. 

However, it is important to keep in mind that the sellers are still much around the corner. If they mount pressure again and the price plunges below the triangle, the coin will continue to face down till it finds a solid support level. 

The key target area to watch for such a scenario would be the lower boundary of the channel forming since mid-2022. That lower boundary is expected to provide a solid support for an increase in case of the triangle breakdown. But currently, the buyers are turning up as no signs of bearish reactions over the past 24 hours.

BNB Key Level To Watch Source: Tradingview

As BNB saw a recovery over the past hours, the closest resistance level to keep an eye on for more increase is $318.4 Moving higher, the levels for buying are $327.8 and $337.5. 

In case of a bearish extension, the bulls must defend the $300 psychological support level. Once the price successfully drives through it, the next support level to watch is $283.2 and $270 before dipping further.

Key Resistance Levels: $318.4, $327.8, $337.5

Key Support Levels: $300, $283.2, $270

Spot Price: $310 Trend: Bearish Volatility: Low

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: slavstan/123RF

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 314.47 (-100%)

binance hours past lot price coin bnb

Источник: nulltx.com

binance hours → Результатов: 126


HFT price prediction: Is Hashflow a good investment

The Hashflow price went parabolic this week as the number of exchange listings jumped. HFT was trading at $0.9530, which is about 365% above the lowest level this week. According to Binance, the coin has jumped by over 520% in the past 24 hours, giving it a market cap has jumped by more than $160 […] The post HFT price prediction: Is Hashflow a good investment appeared first on CoinJournal.

2022-11-8 14:18


Binance стала партнером концертного тура The Weeknd

Биржа Binance стала партнером тура After Hours Til Dawn певца The Weeknd. Утверждается, что это первый мировой концертный тур, в котором используют технологии Web 3. 0. Об этом ForkLog сообщили представители компании.

2022-6-2 17:00


Фото:

Former OCC Head Brian Brookes Says The US Is Behind The Curve On Cryptocurrency, Blames The SEC For It

Brian Brooks, ex-CEO of Binance.US has blamed the SEC for the US lagging in cryptocurrency adoption. He blamed the mass migration of creators out of the US because of stifling regulations. Six top cryptocurrency CEOs met with Congress on Wednesday in a hearing that lasted over 5 hours. Brian Brooks has bared his mind on […]

2021-12-10 19:24


Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019

In the past 24 hours, 417,654 traders were liquidated for $2.58 billion, with Binance leading at 28% of its share despite underreporting, and now, CME is leading Bitcoin OI at $3.72 bln. The post Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019 first appeared on BitcoinExchangeGuide.

2021-12-4 16:46


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP: Decoding what's next - Do bulls still stand a chance?

XRP struggled to stay above $0.50 amid a generally bearish trend. Despite the downturn, a majority in the community remains hopeful that XRP will catch the next bull run. It is no secret thaThe post XRP: Decoding what's next - Do bulls still stand a chance? appeared first on AMBCrypto.

XRP can reach $3, but it must first cross a key level

XRP’s value dropped by more than 4% in the last seven days.  A few metrics and indicators hinted at a trend reversal.  Like most cryptos, Ripple's [XRP] price also witnessed a correctionThe post XRP can reach $3, but it must first cross a key level appeared first on AMBCrypto.

Ethereum network dips to 6-month low - Here's how it affected ETH

Ethereum’s fees hit a six-month low in the past seven days. ETH was down by 6%, and metrics looked bearish.  As L2s gain popularity, Ethereum’s [ETH] network usage plummets, reaching a The post Ethereum network dips to 6-month low - Here's how it affected ETH appeared first on AMBCrypto.

How soon can AVAX reach $100? Decoding the altcoin's rise

Data from the derivatives market showed that shorts dominated the positions. A golden cross on the daily chart suggested an increase to $60 in the near term. Avalanche's [AVAX] price increasThe post How soon can AVAX reach $100? Decoding the altcoin's rise appeared first on AMBCrypto.

Ethereum's short-term outlook - How high or low will ETH's price go now?

Legendary trader Peter Brandt believes Ethereum's price chart is ‘intriguing' Ethereum's price showed signs of recovery, with an increase in new addresses Ethereum has so far exhibited a vThe post Ethereum's short-term outlook - How high or low will ETH's price go now? appeared first on AMBCrypto.

Toncoin surges by +17% - Is it time for TON holders to cash out?

TON's price surged significantly over the last 24 hours Activity on the network grew, while the revenue generated by the protocol fell Toncoin [TON] turned out to be one of the underdogs of The post Toncoin surges by +17% - Is it time for TON holders to cash out? appeared first on AMBCrypto.