Denys Serhiichuk
Does rate of Binance Coin (BNB) have enough strength for midterm rise?
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The week is ending bullish as most of the coins are in the green zone.
BNB/USD
The rate of Binance Coin (BNB) has increased by 1% since yesterday. Over the last week, the price has risen by 2.65%.
On the hourly chart, the price of BNB might have found a local support level at $213.6. If the daily candle closes in the middle of the channel, the rise may continue to the resistance of $216.3 tomorrow.
A less clear picture is on the daily time frame as the price is far from the main levels.
Buyers might only start thinking about a midterm bullish trend if the rate returns to the $220 zone and fixes above it.
From the midterm point of view, the candle is about to close bullish even though it is far from the resistance of $221.3. If a breakout of that mark happens, the upward move may lead to a test of the $230 zone.
BNB is trading at $214.8 at press time.
About the author
Denys Serhiichuk