#BNBRiseContinues Here is a comprehensive analysis of Binance Coin (BNB) price action:
Current Price and Volume
BNB is currently priced at around $657.75, down 1.93% in the last 24 hours.¹ The 24-hour trading volume is around $8.34 million.²
Price Action Indicators
- *Relative Strength Index (RSI)*: 70, indicating a neutral signal.
- *Moving Average Convergence and Divergence (MACD)*: A bullish crossover, indicating a possible trend reversal.
- *Bollinger Bands*: Expanding, indicating increased volatility.
Support and Resistance Levels
- *Strong Support*: $630-$650 (50-day and 200-day moving average confluence).
- *Medium Support*: $600-$630 (lower Bollinger Band).
- *Resistance*: $700-$750 (upper Bollinger Band).
Price Action Patterns
- *Ascending Triangle*: A possible ascending triangle pattern is forming, which could indicate a breakout above $750.
- *Bullish Reversal Pattern*: A bullish reversal pattern is seen on the daily chart, indicating a possible trend reversal.
