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For a significant amount of time, BNB/USD has traded under the $300 price level. However, now, it’s like that narrative is about to change, as price action seems to be poking through this long-term resistance. At the same time, BNB/BTC market is showing some fascinating moves, which calls for further examination.
BNB Analysis Statistics Data:
Binance value now: $301.70
BNB market cap: $48.78 billion
Binance moving supply: 159.98 million
The Total supply of BNB: 159.98 million
Binance Coinmarketcap ranking: #4
Major Price Levels:
Top Levels: $301.70, $310.00, $320.00
Base Levels: $290.00, $280.00, $270.00
Binance Coin Price Prediction Today, October 30, 2022: BNB/USD Advances Higher
The 24-hour BNB/USD market chart is portraying signs of rising further upwards. Price action can be seen rallying upwards while still above the smooth Moving Average line by implication this is portraying that an uptrend is on. Additionally, this could further increase traders’ confidence, which may cause more traders to keep buying. Eventually, this will provide more upward push to price action. Nevertheless, traders can execute a buy order straight away since the resistance of $301.70 has been broken, and buying pressure may continue to mount till the price gets to $310.
Binance Coin Price Prediction Today, October 30, 2022: BNB/BTC Retains Upside Optimism
It appears as if Traders are using the 0% and 23.60% Fibonacci retracement levels as a buy and sell point in the BNB/BTC market. Currently, price action is on its way toward 0% retracement, and from the looks of technical indicators, it’s more likely that it will get there. The last price candle on this chart shows that selling pressure is active at this point. Nevertheless, since price action is still above the MA curve Traders will still be encouraged to keep buying. Consequently, price action will keep rising towards the 0% Fibonacci retracement level at 0.01501. At this point, buying is still a good Idea.
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