Can Binance Coin (BNB) Rise to $300? August 8th BNB Analysis

  • BNB price has provided a 4% return by initiating an upward movement from the level of $235.3.
  • Closings above $240 on a 4-hour basis indicate a rise towards the $255 resistance.
  • Daily closings above the critical resistance level of $276 may lead BNB towards the $300 target.

The daily technical chart of Binance Coin (BNB) clearly demonstrates the decisive impact of the determined support and resistance levels on the price movement. In the recent analysis, it provides us with important clues to understand possible future trends by examining the price’s past performance.

Medium-Term BNB Analysis

Daily BNB/USD Price Chart

When examining the daily technical chart of Binance Coin (BNB), it is observed that the upward movement from the previously highlighted level of $235.3 has provided investors with a 4% return. As the price continues to close above $235.3 on a daily basis, it carries the probability of sustaining the upward trend.

As long as the BNB price remains above the $235 level, we can consider the initial target as $255. Similarly, if it achieves daily closings above $255, we can consider the next upward target as $276.

If Binance Coin continues to maintain its daily closings above the critical resistance level of $276 mentioned in the analysis, we can see the next target as $300. However, we should not forget that for BNB to surpass $300, it needs to first surpass and close above the mentioned resistance levels on a daily basis.

Short-Term BNB Price Analysis

4-Hour BNB/USD Price Chart
4-Hour BNB/USD Price Chart

According to our previous short-term analysis, Binance Coin (BNB) has initiated an upward movement from the support range and is currently trading around $245. As long as the BNB price continues to maintain 4-hour candlestick closings above $240, it can continue its upward movement towards the initial resistance level of $255.

If the BNB price achieves 4-hour candlestick closings above $258, the next upward target will be $266. However, it should be noted that for BNB to realize this upward movement, it needs to first surpass and close above the resistance levels, demonstrating a strong stance.

If the BNB price achieves 4-hour candlestick closings below $240, it may continue the downward trend towards the support range of $235 to $232. However, if BNB can sustain above the $231 level, it will aim to maintain the upward trend.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Forward Industries Files $4B ATM Plan with SEC to Back Solana Strategy, Holds 6.8M SOL

Forward Industries disclosed to the SEC a proposed $4...

Metaplanet to Invest $1.25B in Bitcoin by October, Allocates $139M to Bitcoin Yield Arm

COINOTAG News on September 17, citing Cointelegraph, reported Metaplanet's...

$BARD added to Binance hodler airdrops

$BARD added to Binance hodler airdrops

Binance Futures to Auto-Deleverage and Delist ALPHAUSDT U Perpetual Contract on September 23, 2025

COINOTAG News reported on September 17 that, per official...

ENA Alert: Maven 11 Withdraws 4.03M ENA from Binance as YZi Labs Sends 5M — 30.08M & 54M Totals Tracked

On September 17, COINOTAG News cited on-chain analyst Yu...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img