Binance Coin Price Prediction for Today, August 8: BNB Spikes to a 2-Month high at $333

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Updated: 08 August 2022

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The Binance Coin price prediction shows that BNB is likely to climb above the upper boundary of the channel to continue the upward trend.

Binance Coin Prediction Statistics Data:

Binance Coin price now – $324
Binance Coin market cap – $52.3 billion
Binance Coin circulating supply – 161.3 million
Binance Coin total supply – 161.3 million
Binance Coin Coinmarketcap ranking – #5

BNB/USD Market

Key Levels:

Resistance levels: $420, $440, $460

Support levels: $230, $210, $190

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BNB/USD is currently changing hands at around $324.6 as the coin touches the daily high at $333.8 with a market cap of $52.3 billion. Today’s trading begins with a slight uptrend in the market as the coin moves above the 9-day and 21-day moving averages. However, according to the daily chart, traders are anticipating that the current price movement is an indication of the upcoming price rally in the market.

Binance Coin Price Prediction: Binance Coin May Gain More Uptrends

Looking at the daily chart, the next step for the Binance Coin price is to cross above the upper boundary of the channel. Once this is done, bulls may now push the coin to hit the nearest resistance level of $400 before locating the potential resistance levels at $420, $440, and $460 respectively.

However, as the technical Indicator Relative Strength Index (14) moves into the overbought region, BNB/USD may continue to move to the north, once this plays out, it can manage to sustain the bullish movement above the channel. Meanwhile, if the price decides to make a quick turn to the south, the support levels could be found at $230, $210, and $190.

Against Bitcoin, the Binance coin is retreating below the lower boundary of the channel. At the moment, bears are likely to push the coin to the negative side as the technical Indicator Relative Strength Index (14) moves below the 70-level.

However, if the bulls push the price above the upper boundary of the channel, BNB/BTC may rise to the resistance level of 1600 SAT and above. Meanwhile, the continuation of the bearish movement may bring the price towards the support level of 1200 SAT and below.

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