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Binance Coin (BNB) Price Analysis for December 29

Thu, 12/29/2022 - 20:00
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Denys Serhiichuk
Has Binance Coin (BNB) got enough power to rise to $300?
Binance Coin (BNB) Price Analysis for December 29
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Bulls remain weak against bears' ongoing pressure.

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Unlike other coins, the price of Binance Coin (BNB) has risen by 0.90% over the last 24 hours.

BNB/USD chart by TradingView

On the local time frame, the price of Binance Coin (BNB) is trying to break the hourly resistance level at $246.4. If the breakout occurs, the accumulated energy might be enough for a move to the $248 mark.

Ethereum (ETH) Price Analysis for December 28

Thus, the volume is growing, which confirms buyers' power.

BNB/USD chart by TradingView

On the bigger chart, the situation is not so clear, as the price of the native exchange coin keeps trading sideways between the $242 and the $248 mark. However, if closure above the $248 zone happens, the upward move may lead to the test of the $250 mark by mid-January.

BNB/BTC chart by TradingView

On the daily chart against Bitcoin (BTC), the price of Binance Coin (BNB) has fixed above the support at 0.014730, which serves as the mirror level now. Until the rate is above it, bulls will be more powerful than bears. All in all, the more likely scenario is a further rise to the next resistance zone at 0.015.

BNB is trading at $246 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at