Binance Coin Rises Above The $620 Mark

The price  of BNB has broken above the resistance level at $620 and recovered above the moving average lines.

BNB price long-term prediction: bullish

The bulls and bears have been engaged in a price battle above the moving average line since April 22, as reported by Coinidol.com. The altcoin has risen above the $620 level, giving the bulls the upper hand today.

On the upside, BNB will hit the highs of $644 and $680 if the uptrend continues. BNB is rising as it approaches the $640 high. The $640 barrier has not been breached in the previous price action since March 17. The altcoin will have to move below the $640 level if buyers fail to break above the current high.

BNB is worth $637 at this point. BNB price is recovering as it is above the horizontal moving average lines.

BNB price indicator analysis

On the 4-hour chart, the moving average lines are sloping upwards with a bullish crossover. This shows that the altcoin is gaining value. In the meantime, the development of doji candlesticks has limited price movement.

Technical indicators:  

Key Resistance Levels – $600, $650, $700

Key Support Levels – $400, $350, $300

What is the next direction for BNB/USD?  

BNB has resumed an uptrend after weeks of sideways movement above the moving average lines and below resistance at $620. The altcoin is rising after breaking above the $620 hin uptrend after weeks of sideways movement above the moving average lines and below resistance at $620. The altcoin is rising after breaking above the $620 high.

On the 4-hour chart, BNB is in an uptrend, making higher highs and higher lows. The altcoin is approaching the high of $635.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.