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Binance Coin (BNB) Price Analysis for February 18

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Sat, 18/02/2023 - 9:46
Binance Coin (BNB) Price Analysis for February 18
Cover image via www.tradingview.com

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The weekend has started with ongoing buyer dominance as the majority of the coins are in the green zone.

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BNB/USD

The rate of Binance Coin (BNB) has risen by 2.39% over the last 24 hours.

BNB/USD chart byTradingView

On the hourly chart, Binance Coin (BNB) started the day with growth. However, it could not fix above the $320 mark, forming the false breakout of $318.4.

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The more likely scenario is sideways trading in the range of $315-$318, as one should not expect sharp moves on the weekend.

BNB/USD chart byTradingView

On the daily chart, the price of Binance Coin (BNB) has made a false breakout of the resistance at $321 against increased volume. At the moment, one should pay attention to the bar closure. If it happens around the $320 mark, the accumulated strength might be enough for a blast to the $330 zone.

BNB/USD chart byTradingView

From the midterm point of view, Binance Coin (BNB) remains bullish as the price has once again almost touched the support level at $281.1 and is currently trading above the $300 mark. All in all, the more likely scenario is further growth to $337.8.

BNB is trading at $316.3 at press time.

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