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Binance Coin (BNB) takes the lead with a 4.34% increase in the last 24 hours, as heightened network activity and bullish patterns suggest a sustained upward trajectory for the token.
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.
When the hourly technical chart of Binance Coin is examined, it can be seen that the price has risen up to 217 dollars by closing above the 211 dollar resistance on an hourly basis. The nearest support zone for the price is determined as 211 dollars.
The short-term technical chart of BNB shows that it is moving near the support level of $208. If the closes below $208 continue, the decline can be extended towards the range of $207 - $205. However, supportive closes above $208 can increase the possibility of the price rising towards the level of $211.
When analyzing the 2-hour technical chart of Binance Coin (BNB), it can be seen that the upward movement, which started with strong buying at $235.3, continues. The mentioned resistance and support levels are of critical importance for investors.
In a significant development for the Japanese cryptocurrency market, the JVCEA has announced the addition of BNB and ALGO to its platform. This marks the first time these cryptocurrencies will be available for trade in Japan, with the service set to commence from August 1, 2023. The JVCEA has also been working towards improving its review process for new cryptocurrency listings, with the aim of boosting the crypto industry.
Despite the general upward trend in the market, Binance Coin (BNB) experienced a 0.77% decrease today, indicating significant selling pressure. According to analyses, BNB needs to surpass a specific resistance level in order to transition into an upward trend.
When examining the Binance Coin (BNB) price chart, it is observed that the $265 resistance must be surpassed for the full initiation of the upward trend.