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Binance Coin (BNB) Price Analysis for March 19

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Sun, 19/03/2023 - 14:11
Binance Coin (BNB) Price Analysis for March 19
Cover image via www.tradingview.com

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Bulls could not hold the initiative for long, and most of the coins are back in the red zone.

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BNB/USD

The rate of Binance Coin (BNB) has declined by 1.02% over the last 24 hours.

BNB/USD chart by TradingView

On the hourly chart, the price of Binance Coin (BNB) has broken the resistance at $336.3 against the increased volume. If buyers can hold the gained initiative, a further upward move to the $344 zone is possible tomorrow.

BNB/USD chart by TradingView

Bulls are also powerful on the daily time frame. The rate is returning to the resistance recently formed by the false breakout. If the candle closes near the $340 mark, the rise may continue to the $350 area in the upcoming week.

BNB/USD chart by TradingView

The current weekly candle is about to close bullish with no long wicks, which means that buyers are ready for a midterm rise.

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If the growth continues to the vital $350 mark and the price fixes above it, the accumulated energy might be enough for a blast to $400 by the end of the month.

BNB is trading at $339.2 at press time.

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