Binance Coin Observes a 4.46% Rally and May Surge to $568.1

Binance Coin (BNB) Cryptocurrency News

Binance Coin (BNB) is currently sitting at a unit price of $449.0 per BNB and the bears are trying really hard to lower its value. On the other hand, the bulls are not only fighting against the bears but they are also trying to increase the price of Binance Coin with strong buying sentiments.

Past Price of Binance Coin

On March 26, Binance Coin was at a low of $412.04 per BNB and it seemed that the bears were in control. In the next few days, the bulls showed their buying power at a lower level and managed to bring Binance Coin to $415.54 per BNB.

However, the bears launched their counter in the form of selling Binance Coin at a lower level. This resulted in the price of Binance Coin moving down to $413.04 per BNB. However, the small level rallies had boosted the confidence level of the investors.

They went ahead and increased their buying power on March 28, which pushed Binance Coin’s price to a high of $440.61 per BNB. The bulls didn’t stop there and went ahead with their buying activities, pushing Binance Coin to a high of $451.24 per BNB.

Bullish Sentiments

At present, the general perception of the investors surrounding Binance Coin is to invest in it. The sentiments come from the strong buying preference of the investors, which reflects through Binance Coin’s summary scale.

The moving averages and the oscillators for Binance Coin are also pointing at the buying preference of the investors. As for the ultimate oscillator and the RSI, they are at 61.5 and 67.2 respectively, confirming they are in the bullish area.

If the trend continues and all technical indicators grow stronger for the bullish run, then Binance Coin’s price may get pushed up to $475.3 per BNB.

Once the first target is reached, the bears may try to pull BNB’s price lower, but if they fail, BNB may continue surging. The next high price Binance Coin may succeed in hitting in the due course would be $506.4 per BNB.

If things go well, then the price of Binance Coin may surge to $568.1 per BNB. This would end up launching Binance Coin into the resistance where the gains would be higher and may push it over $600.

On the contrary, the bulls may get pinned down by the bears again once they attack with their strong selling sentiments. In such a case, Binance Coin’s price may fall down to $435 per BNB.

This would shift the trend from bullish to bearish, and the RSI may also start moving towards the midline only to migrate into the negative zone. If that happens, then Binance Coin’s price may dip to $420 per BNB.

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