Binance Coin hits a fresh All-Time High just before the closing of yesterday’s trading session above $45 while currently trades at $41.9. BNB coin is now trading amongst the top 10 cryptocurrencies of the market with spurring momentum and price gain.
Binance is not just a trading platform but is an altogether a crypto ecosystem, and the native crypto is booming and flourishing since the 1st quarter of the previous year. Binance is a smart ecosystem with many cryptos on its developed on its chain, and in this respect, BNB is trading at a significantly lower price even though it has hit an ATH.
Should we do $BNB is cheap at $43 tweet? Few…. https://t.co/V49LeLSs4F
— Gautam Chhugani (@gautamchhugani) January 8, 2021
Binance, as a team, is growing incandescently and is definitely reflecting the growth on BNB that is drawing an uptrend, where the coin is strengthened from the yearly bottom of $6.8 to an ATH of $47.2. The coin has grown over 600% in less than a year, and within a week from the start of 2021, cryptocurrency is trading flamboyantly. Moreover, it was just yesterday when Bitcoin flashily hit $40k for the first time that led BNB to a fresh high too.
Binance Coin Price Analysis
At the press time, Binance Coin was trading slightly below its ATH hit in the previous trading session yesterday and is now trading at $41.9. With the exploding price, the BNB/USD price trend breaches the upper Bollinger Band after drawing an extended uptrend against the US Dollar starting from March 2020. As per the BNB Price Prediction and the higher high pattern drawn from the last two years shows that the price will rise even higher if the momentum and trend continue in the years to come.
The Binance coin retains support from 50-day MA on the 6-day chart at $23.3 as the bullish sentiment prevails. The MACD chart draws a confirmed bullish crossover and divergence as the BNB coin gains over 600% from the yearly bottom. The RSI is inclined towards the overbought region and is breaching the overbought zone at 75 due to overwhelmed demand led by ATH price.
