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Binance Coin (BNB) Price Prediction for October 4

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Fri, 4/10/2024 - 14:52
Binance Coin (BNB) Price Prediction for October 4
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Most of the coins are bouncing off today, according to CoinMarketCap.

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Top coins by CoinMarketCap

BNB/USD

The rate of Binance Coin (BNB) has risen by 2.54% over the last 24 hours.

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Image by TradingView

On the hourly chart, the price of BNB is near the local resistance of $554.50. If buyers can hold the gained initiative by the end of the day, one can expect a breakout, followed by a move to the $560 zone.

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Image by TradingView

On the bigger time frame, the rate of the native exchange coin is rising after a false breakout of the support of $535.40. However, bulls might need more time to accumulate energy to keep rising. 

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In this case, sideways trading in the zone of $550-$560 is the more likely scenario.

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Image by TradingView

From the midterm point of view, the price of BNB is far from support and resistance levels. But if the weekly bar closes near the $520 mark, the fall may continue to the $450-$500 range soon.

BNB is trading at $554.50 at press time.

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