Binance Coin Price Prediction for Today, May 1: BNB Draws Short-Term Bullish Sentiment at $385

Updated: 01 May 2022

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The Binance coin price prediction is likely to climb above the 9-day moving average to begin the upward trend as the price mounted up by 2.57%.

BNB/USD Market

Key Levels:

Resistance levels: $425, $435, $445

Support levels: $340, $330, $320

Binance Price Prediction — BNBUSD – Daily Chart

At the time of writing, BNB/USD is currently changing hands at around $387.3 as the coin heads to the upside. Today’s trading begins with a slight uptrend in the market as the coin moves to touch the daily high of $390.9 after which it is currently trading below the daily high at $387. However, 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 Gets Ready for The Upside

According to the daily chart, the next step for the Binance Coin price is to cross above the 9-day moving average. Once this is done, bulls may now push the coin to cross above the 21-day moving average before heading towards the upper boundary of the channel to hit the resistance levels at $425, $435, and $445 respectively.

However, as the technical Indicator Relative Strength Index (14) moves above the 40-level, BNB/USD may move to the north, once this plays out, it can manage to sustain the bullish movement towards the resistance levels of $390 and $400. Meanwhile, if the price decides to make a quick turn to the south, the support levels could be found at $340, $330, and $320 respectively.

Against Bitcoin, the Binance coin is moving to cross above the 9-day and 21-day moving averages as the coin may trade towards the upper boundary of the channel. At the moment, bulls are to push the coin to the positive side as the technical Indicator Relative Strength Index (14) moves above 50-level.

However, if the bears drag the price below the moving averages, BNB/BTC may fall to the support level of 9500 SAT and below. Meanwhile, the continuation of the bullish movement may keep the price above the moving averages, and staying there may cause the coin to hit the resistance level of 1070 SAT and above.

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