Binance Coin Price Analysis BNB Bulls Take Control and Reclaim $460, What’s Next?
Binance Coin was successful in reclaiming $460 following major news that Binance will invest $1 billion in the BSC ecosystem. What are the next targets? Key Support level: $460 Key Resistance level: $526; $690 Binance Coin (BNB) has rallied 22% in the past four days on the news that Binance, the largest crypto exchange in the world, will invest $1 billion into the Binance Smart Chain (BSC) ecosystem. Following the news, BNB has successfully broken above the key technical resistance level at $460, making it support. The price is now seemingly getting ready to test the first resistance at $526 and start making its way towards the all-time high at $690.Indicators Volume: We saw excellent volume on the breakout, which confirms that the move is sustained. We can probably expect the price to continue moving upwards towards the first resistance. Its important to pay close attention to the volume as increasing volume on a move up is extremely bullish. RSI: The RSI on the daily timeframe is making higher highs, which is good news for bulls as it is still quite far off from the overbought area (RSI 70). This shows that the price has plenty of room to move higher. MACD: The moving averages, as well