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Binance Coin (BNB) Price Prediction for June 1

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Sat, 1/06/2024 - 18:41
Binance Coin (BNB) Price Prediction for June 1
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Neither bulls nor bears are dominating at the beginning of the weekend, according to CoinStats.

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BNB chart by CoinStats

BNB/USD

The rate of Binance Coin (BNB) has risen by 0.78% since yesterday.

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Image by TradingView

On the hourly time frame, the price of the native exchange coin is going up after a breakout of the local resistance level of $596.5. While the rate is above that mark, buyers are more powerful than sellers and there is a chance of an ongoing upward move.

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Image by TradingView

On the daily chart, today's rise has not affected the overall technical picture. Sideways trading remains the more likely scenario as the price is far from the main levels.

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All in all, one can expect consolidation in the narrow range of $590-$610 within the next few days.

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Image by TradingView

From the midterm point of view, the situation is almost the same. Any sharp ups or downs are unlikely to happen soon due to a lack of energy from both sides.

BNB is trading at $598 at press time.

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