BNB Momentum Shift: Has the Pullback Ended, or Is It Just Taking a Breather?
- BNB price is hovering around $952, up more than 3%.
- Its daily trading volume has increased by over 36%.
The crypto market opened the day with a modest recovery, sending the market cap to $4.02 trillion. As a result, the majority of the tokens have been attempting to climb to the new highs, and some are still in the red. Meanwhile, the largest asset, Bitcoin (BTC), is trading at $116.3K, and Ethereum (ETH), the largest altcoin, is hovering at around $4.4K.
BNB is one of the trending tokens, which has posted a surge of over 3.11% in the last 24 hours. In the early hours, the asset traded at a bottom range of $923.75, and with the bullish turn in the market, the price has risen to a high of $962.29. To confirm the uptrend, the bulls have tested and broken the pivotal resistance levels between $923.81 and $962.23.
Today’s recovery has made BNB trade at around the $952.57 mark, with its market cap reaching $132.42 billion. In addition, the daily trading volume has increased by over 36.95%, touching the $3.33 billion range. Notably, according to the Coinglass data, the market has witnessed an event of $2.06 million worth of BNB liquidated during this interval.
Significantly, crypto exchange Binance is reportedly negotiating with the U.S. Department of Justice to remove its compliance monitor requirement from the $4.3 billion settlement related to anti-money laundering violations. If Binance secures regulatory relief, the price of its native coin, BNB, could rise.
Can BNB’s Momentum Carry It to New Highs?
BNB’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line, giving a bullish sign. The upward momentum might be gaining strength, supporting the price action. Besides, the Chaikin Money Flow (CMF) indicator found at 0.16 implies a mild buying pressure in the BNB market. As the value is above zero, the money is flowing into the asset, though not strongly.
Zooming in on the recent trading pattern of the BNB/USDT pair, the green candles have formed, and the price might rise to the resistance at around $952.67. An extended bullish correction could trigger the golden cross to happen, and the potent bulls would take the price above the $952.77 mark.
On the downside, assuming the asset displays a price chart with the red candles lit up, the bears might push the price down toward the $952.47 support level. A strong bearish correction of BNB could initiate the death cross to take place, and it likely invites further losses at $952.37 or may go even lower.
Moreover, the daily Relative Strength Index (RSI) positioned at 70.21 indicates the asset is entering the overbought territory, with strong bullish momentum. It also warns that prices may face a pullback or consolidation. BNB’s Bull Bear Power (BBP) reading of 34.57 suggests that the bulls are strongly dominating the market and pushing the price above.
In conclusion, the recent trading pattern reveals that the presence of bulls is hovering in the BNB market. For a comprehensive long-term outlook of the asset, check out our complete price forecast: Binance Coin (BNB) Price Prediction 2025, 2026-2030.
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BNB Momentum Shift: Has the Pullback Ended, or Is It Just Taking a Breather?
- BNB price is hovering around $952, up more than 3%.
- Its daily trading volume has increased by over 36%.
The crypto market opened the day with a modest recovery, sending the market cap to $4.02 trillion. As a result, the majority of the tokens have been attempting to climb to the new highs, and some are still in the red. Meanwhile, the largest asset, Bitcoin (BTC), is trading at $116.3K, and Ethereum (ETH), the largest altcoin, is hovering at around $4.4K.
BNB is one of the trending tokens, which has posted a surge of over 3.11% in the last 24 hours. In the early hours, the asset traded at a bottom range of $923.75, and with the bullish turn in the market, the price has risen to a high of $962.29. To confirm the uptrend, the bulls have tested and broken the pivotal resistance levels between $923.81 and $962.23.
Today’s recovery has made BNB trade at around the $952.57 mark, with its market cap reaching $132.42 billion. In addition, the daily trading volume has increased by over 36.95%, touching the $3.33 billion range. Notably, according to the Coinglass data, the market has witnessed an event of $2.06 million worth of BNB liquidated during this interval.
Significantly, crypto exchange Binance is reportedly negotiating with the U.S. Department of Justice to remove its compliance monitor requirement from the $4.3 billion settlement related to anti-money laundering violations. If Binance secures regulatory relief, the price of its native coin, BNB, could rise.
Can BNB’s Momentum Carry It to New Highs?
BNB’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line, giving a bullish sign. The upward momentum might be gaining strength, supporting the price action. Besides, the Chaikin Money Flow (CMF) indicator found at 0.16 implies a mild buying pressure in the BNB market. As the value is above zero, the money is flowing into the asset, though not strongly.
Zooming in on the recent trading pattern of the BNB/USDT pair, the green candles have formed, and the price might rise to the resistance at around $952.67. An extended bullish correction could trigger the golden cross to happen, and the potent bulls would take the price above the $952.77 mark.
On the downside, assuming the asset displays a price chart with the red candles lit up, the bears might push the price down toward the $952.47 support level. A strong bearish correction of BNB could initiate the death cross to take place, and it likely invites further losses at $952.37 or may go even lower.
Moreover, the daily Relative Strength Index (RSI) positioned at 70.21 indicates the asset is entering the overbought territory, with strong bullish momentum. It also warns that prices may face a pullback or consolidation. BNB’s Bull Bear Power (BBP) reading of 34.57 suggests that the bulls are strongly dominating the market and pushing the price above.
In conclusion, the recent trading pattern reveals that the presence of bulls is hovering in the BNB market. For a comprehensive long-term outlook of the asset, check out our complete price forecast: Binance Coin (BNB) Price Prediction 2025, 2026-2030.
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