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Binance Coin Price Analysis: Binance Coin rejects further downsides below $478



Today’s Binance Coin price analysis is bullish after a 2.07 percent continuation to the $486 region. Binance Coin bounced from a daily low of $478, thereby defending the bulls from sinking below the $475 minor support. We expect to see more gains in the next 24 hours as buyers sustain the momentum and strongly defend the overhead demand zone. 

Binance Coin price movement in the last 24 -hours: Will bulls beat the bears pulling the price to $470

According to our Binance Coin price analysis, BNB/USD traded within a daily range of $478 – $495. Such a medium-length range suggesting moderate volatility across the daily chart. Binance Coin’s trading volume faced a 14.40 percent plummet to a total of $2.28 billion. The total market capitalization stands at $82.7 billion after a 0.13 percent surge in the last 24 hours. Binance Coin ranks at number #4 by market cap.

4-hour Binance Coin Price Analysis: Bulls aim for $500

On the 4-hour Binance Coin price analysis, BNB/USD is trading upwards as bulls attempt to cross into the $490 price zone once again.  Bulls have their eyes focused on the $500 psychological barrier and are working against time to build momentum and get there soon. The bulls seem persistent to set a new high on the 24-hour chart, but their attempts are being met by take-profit traders at the $498 price. 

Binance Coin Price Analysis: Binance Coin rejects further downsides below $478 1Source: Tradingview

Binance Coin price action has witnessed bullish patterns in the past 4 -weeks. This was after the coin underwent a rapid swing low in June to the $234 mark ahead of rallying by approximately 230- percent to the press time intraday high of $497.

BNB/USD did not have a good start into the week following a 15 percent retracement to the $450 support mark. The bears are still acting against the upper support levels and persistently want the price to retest this mark. Nonetheless, Binance Coin’s price action hit a higher low at that point, and the altcoin’s market has been consolidating above it for the past few days 

Binance Coin price analysis conclusion

Binance Coin’s price analysis is bullish as a strong rally was seen yesterday, and the market price currently trades just near the $487 mark. Therefore, we expect BNB/USD to swing higher later today and target the $495 mark next. While waiting for BNB/USD to move further, read our articles on Decentralized Exchanges,   Bitcoin Futures, and NFT Marketplace.

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