Summary of the situation

  • The NBB finds support at $485.
  • BNB previously struggled with the $540 limit.
  • The next target is at the $585 resistance.

Today, the price outlook for financial currencies is neutral, as the market has identified both a lower high and a higher low, indicating a declining trading range. We therefore expect further sideways movements for the NBB.

Cryptocurrency Heatmap. Source :

The entire crypto currency market is still in the red after another spike down overnight. Bitcoin came back with a total loss of 2% above the $55,000 price point. Meanwhile, Ethereum is trading with a loss of 2.4 percent, while the rest of the major altcoins are underperforming.

NBB/USD opened at $504, after the market earlier formed a new low at $430 and reversed to retest resistance at $540. Tonight there was further downward pressure, but support was found at $480, which is a higher low. Therefore, we expect the NBB/USD to turn bullish again later this week. Further consolidation around $480-540 is expected today.

Exchange rate movements of financial currencies during the last 24 hours

The BNB/USD exchange rate fluctuated between $475 and $530, indicating moderate volatility. Meanwhile, continuous trading volume remained virtually unchanged with a slight decline of 2.82% to $6.35 billion. The total market capitalization is $77.36 billion, putting the cryptocurrency in 3rd place.

NBB/USD 4-hour chart – NBB

On the 4-hour chart, we can see that Coin Binance’s price has been moving sideways for the last few hours. Until there is a breakout on one side or the other, we should see another sideways move today.

4 hour chart NBB/USD. Source: TradingView

Binance Coin price prediction: Binance Coin continues retracing, set to consolidate later today

Overall, Binance Coin has shown excellent results in recent weeks. After the opening of the market on 25. After hitting a low of $230 in March, it continued to rise in the following weeks to a new high of $640, a total gain of nearly 180%.

From that point on, the price of Binance coins began to slowly recover, with slightly lower lows and higher highs each time. On April 18, the NBB/USD fell quickly to support at $430. Yesterday, the NBB/USD moved back up in an attempt to retest resistance at $550.

The market peaked at $540, leading to a slightly lower low, meaning that the trend is still slightly bearish; however, a recovery could come in the coming days. Later, the NBB/USD pulled back to a low of $480. Last night this level was tested again, suggesting that the Bankable Coin price action is now trading in an increasingly narrow range.

Therefore, we expect BNB to continue to move sideways around $480-$540 in the coming hours. BNB is likely to break out to the upside later this week, now that the multi-day consolidation has generally worked out. The next target is $585. If this goal is achieved, it means that the entire market structure has become bullish again.

Forecasts of prices of financial items Supplement

Binance’s coin price outlook is neutral for today, as the market is trading in a narrowing range and has moved sideways in recent hours. Therefore, we expect further consolidation later today until a higher high above $540 or a lower low below $480 is formed.

While we wait for the Binance coin price to change, check out our guides to free mining software for Ethereum and Bitcoin. To learn more about another great altar, check out our long-term price forecast for the Polkadot.

Denial. The information provided does not constitute commercial advice. .com is not responsible for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.

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