Binance Coin price analysis: BNB/USD makes slight recovery after closing at $331 yesterday
Binance Coin price analysis has remained slightly bullish today, as there has been an increase of roughly 0.12% in its value. It went up to $338 after closing at $331 yesterday. The entire market’s sentiment is pointing towards chances of recovery for the market.
As we can see on the crypto heat map, Bitcoin and Ethereum both increased in value slightly. While the former marked 2.67 percent increase, Ethereum went up by 0.66 percent. Coins like Dogeocin, Cardano, Ripple, and Solana are also following in the footsteps of Ethereum and Bitcoin.
Looking at the 1-day Binance Coin price chart, we can see that the market has faced some resistance at $342 today. Earlier yesterday, Binance Coin reached $275 and found major support at that level. It was quick to rebound up again and faced major resistance around the $346 mark before closing at $331. Today, it remained mostly bullish but failed to retest the resistance level set yesterday.
Binance Coin 24 hours price movement
Exactly 24 hours ago, Binance Coin’s price closed at $335 and it is around $339 right now. Furthermore, the overall market cap of Binance Coin went up by 0.72 percent whereas the 24-hour trading volume decreased by 18.22 percent. This leaves its 24-hour volume to market cap ratio at 0.0134.
4-hour Binance Coin price analysis: Can BNB/USD retest $346 today?
While Binance Coin has remained a little bullish today, there is still no chance for it to retest $346 today since the UTC day is nearing its end. However, this might change tomorrow. Either way, for Binance Coin to break past this level, significant momentum will be required.
Binance Coin price analysis: Conclusion
Overall, Binance Coin price analysis has been bullish today and significant recovery was observed in the last two days when the price fell to a low of $275. In the next few hours, the market is going to remain uncertain due to which this may not be the best time to make a purchase. For more detailed analysis, we recommend reading our Binance Coin price prediction.
