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Binance Coin (BNB) Price Prediction for November 1

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Fri, 1/11/2024 - 15:17
Binance Coin (BNB) Price Prediction for November 1
Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Even though the day has started bearish, most of the coins are trying to seize the initiative, according to CoinStats.

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BNB chart by CoinStats

BNB/USD

The rate of Binance Coin (BNB) has increased by 0.15% over the last 24 hours.

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Image by TradingView

On the hourly chart, the price of BNB is rising after a breakout of the resistance level. If bulls can hold the gained initiative, growth is likely to continue to the $590-$600 range over the weekend.

Article image
Image by TradingView

On the daily time frame, it is too early to make any predictions. Buyers may start thinking about a further upward move only if they restore the rate above the vital zone of $600. 

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In that case, there is a chance to see a test of the resistance of $612.6.

Article image
Image by TradingView

From the midterm point of view, traders should pay attention to same $612.60 level. If it breaks out, the accumulated energy might be enough for a move to the $700 mark.

BNB is trading at $582.20 at press time.

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