Binance Coin (BNB) Price Prediction for February 16

02/17/2024 01:00
Binance Coin (BNB) Price Prediction for February 16

Has price of Binance Coin (BNB) reached its local peak by now?

Original U.Today article

Binance Coin (BNB) Price Prediction for February 16

Cover image via www.tradingview.com

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Bulls remain more powerful than bears, according to CoinStats.

BNB chart by CoinStats

BNB/USD

The price of Binance Coin (BNB) has risen by 4% since yesterday.

Image by TradingView

On the hourly chart, the rate of BNB is approaching the resistance of $366.8. If the daily bar closes around that price, the growth may continue to the $370-$375 area on the weekend.

Image by TradingView

A different picture can be seen on the daily time frame. The rate of BNB has made a false breakout of yesterday's candle peak. If it happens far from that mark, sellers may locally seize the initiative, which might lead to a correction to $350.

Image by TradingView

From the midterm point of view, the price has broken the $338.3 level. Until it is above that level, buyers keep controlling the initiative on the market. 

In this case, one can expect a potential test of the $380-$400 zone by the end of the month.

BNB is trading at $362.6 at press time.

About the author

article image

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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