#Binance #Coin price has been moving calmly for a long time. Fundamental and technical data, on the other hand, seem to be giving a bullish signal for #BNB.
Looking at the price movements of Binance Coin (BNB), the exchange coin seems to be moving more calmly than the rest of the market. However, at this point, analysts draw attention to a situation: Since July 22, BNB has been in a stable recovery trend.
💥BNB Initial Target: $400💥
According to the statements of analysts, Binance Coin , after falling to $ 212 on May 23, followed a horizontal course for a while and started to recover as of July. It is stated that the first target of BNB, which is thought to have risen steadily since July 22, is $ 400 after this point.
It is stated that the volatility is high on the one-hour chart of BNB , which is traded at $340 at the time of publication , but the price moves relatively horizontally on the one-day chart. In addition, the Binance Coin price has increased by approximately 3% over the past week.
On the other hand, according to the statements made, the fact that there has not been a large increase in transaction volumes is considered as an indicator of low network activity despite the increase graphics, and it is stated that in this case, the price may remain flat for a while.
💥Binance Coin Key Levels💥
Based on the charts and comments, the main support for Binance Coin is currently at $310 and the main resistance is at $365. It is stated that if there is a break above $ 365, the price may move towards $ 400.
Image Source: https://Binance.com
However, a break of the $310 support could cause the Binance Coin price to retrace to $280. Therefore, it is very important for analysts to follow the $310 and $365 levels.
In addition, it should be noted that with the burning of Binance Coin , BNB is on its way to becoming a deflationary currency, and therefore, the price has the potential to increase, especially in the long run. Also, the data shows that social volumes for Binance coin have increased since the end of July.