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Binance Coin (BNB) Price Analysis for July 30

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Sun, 30/07/2023 - 18:00
Binance Coin (BNB) Price Analysis for July 30
Cover image via www.tradingview.com

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The last day of the week is neutral for the cryptocurrency market.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

BNB/USD

The price of Binance Coin (BNB) has increased by 0.25% since yesterday.

BNB/USD chart byTradingView

Image by TradingView

On the hourly chart, the rate of Binance Coin (BNB) is in the middle of the narrow channel between the support at $241.6 and the resistance at $242.8.

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As most of the daily ATR has been passed, consolidation in the area around $242 is the more likely scenario until tomorrow.

BNB/USD chart byTradingView

Image by TradingView

A similar picture is on the daily time frame, as the rate is far from the key levels. The falling volume confirms that sideways trading is the more likely scenario for the next few days.

BNB/USD chart byTradingView

Image by TradingView

From the midterm point of view, neither side has accumulated enough strength for either a rise or a fall. In this regard, consolidation between $240 and $245 is the more likely scenario for the next weeks.

BNB is trading at $242.5 at press time.

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