The volatility in the crypto market is on a constant rise, indicating increased buying and selling pressure in the crypto space. However, top tokens have displayed a reduced price action over the past week, highlighting uncertainty for these altcoins in the market.
On the other hand, the Binance Coin price has experienced a bullish jump of approximately 3.5% over the past day. Further, it has added 6.10% over the past seven days, suggesting investors’ rising interest in it.
Binance Coin Price On The Verge Of A Major Breakout!
After displaying a bullish price action for the first two months, the Binance token has recorded a consolidated price action by trading in a range between $568 and $635. The altcoin has displayed significant price volatility during this time in its chart.
Furthermore, the BNB price is on the verge of testing its important resistance level, the outcome of which is unpredictable. The EMA 50-day constantly supports the price chart in the 1D time frame, suggesting a bullish outlook for the Binance (BNB) Coin price in the coming time.
The Relative Strength Index (RSI) displays a significant rise in the chart, highlighting increased buying pressure in the crypto market. Furthermore, the averages show a constant rise, suggesting the price will continue gaining value in the coming time.
Will BNB Price Go Up?
If the bulls continue to gain momentum, the Binance token will test its resistance level of $635. Maintaining the price at that level will set the stage for BNB crypto to test its all-time high (ATH) of $690.9 in the coming time.
Conversely, if the market experiences a bearish reversal, the BNB price will lose momentum and plunge toward its important support level of $568 during the upcoming weeks.
