Binance Coin (BNB) Eyes $300 as Bullish Divergence Appears

• BNB tapped $280, as it outperformed the top four cryptocurrencies in the market.
• The OBV indicated a potential breakout that could trigger a 20% increase.
• If distribution wanes, BNB’s upward movement may be validated.

The price of Binance Coin (BNB) rose by 3.15% in the last 24 hours, and reached $280, CoinMarketCap data revealed. The performance made the coin the best-performing cryptocurrency out of the top 10 assets per market.

During the same period, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) had slight slides in price. The move comes as a positive development for BNB holders who have had to deal with losing the number 4 spot to Solana. 

A Breakout Is Forthcoming

According to the BNB/USD 4-hour chart, volatility around the coin has been increasing. This inference was confirmed by the Bollinger Bands (BB). The BB also indicated the upper band had clipped the sharp candle that led BNB to $279.80.

This means that BNB was overbought, suggesting a reversal in the coin price. A look at the On Balance Volume (OBV) showed that the indicator was rising. The increase in the OBV suggests that accumulation is taking place — a warning that the coin m…

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