- Binance Coin is moving above $214 on the hourly chart, with a target of $220.
- Closing below $214 could lead to a decline towards the support range of $209.5 – $207.
- With strong buying in the $209.5 – $207 support range, the upward target could be $225.
As long as BNB stays above $214 on the hourly chart, there is a possibility of a rise to $220. However, closing below $214 could extend the decline to $207. If strong buying comes from the $207 support zone, the target could reach $225.
Medium-Term BNB Analysis
2-Day BNB/USD Price ChartWhen evaluating the technical chart of Binance Coin (BNB) for the past two days, it continued its rise with strong buying movements from the critical support level of $208 and reached levels around $216.
If the BNB price maintains daily closes above the $208 level, it could rise to levels of $228. If daily closes above $230 are achieved, the next target could be the range of $250 – $265. However, if daily closes above $230 cannot be sustained, the downward trend could continue to $208.
If the BNB price extends its decline with daily closes below $208, it could reach the support range of $186 – $176. If strong buying demand comes from this support range, the price could rise again and reach $265.
Short-Term BNB Analysis
When examining the hourly technical chart of Binance Coin (BNB), it can be seen that the price is moving above the blue support zone of $214. As long as BNB stays above $214, it could continue its upward trend towards $220.
However, if BNB closes below $214 on an hourly basis, it could extend its decline to $211 first and then to the support range of $209.5 – $207. BNB investors should pay special attention to candlestick closes above and below the $214 level.
If the BNB price encounters strong buying demand from the $209.5 – $207 support range, the next upward target could be observed at $225.
