Cryptocurrency

Polkadot

April

View

Binance Coin price analysis shows a comeback on the cards for the token, as price continues to stabilise around the $327 mark in a sideways trend. Price dropped from $339 at the end of April and has since shown little evidence to propel upwards. However, as the current trend takes shape, a test of the $330 resistance could be expected. Meanwhile, support for BNB continues to sit at $322, with trading volume picking up over the past 24 hours and market cap rising up to $51,039,275,060. 



The larger cryptocurrency market shows hefty increments made across the board over the past 24 hours, as <a href="https://www.cryptopolitan.com/bitcoin-price-forecast/?swcfpc=1">Bitcoin</a> moved past the $29,500 mark with a 3 percent jump, and <a href="https://www.cryptopolitan.com/ethereum-price-prediction/?swcfpc=1">Ethereum</a> moved up to $2,000, incurring 6 percent. Among leading Altcoins, Ripple moved to $0.46 with a 2 percent increment, while <a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc=1">Cardano</a> took a 3 percent jump to move up to $0.39. Meanwhile, Dogecoin and Polkadot rose by 2 and 5 percent, respectively. 



<figure class="wp-block-image size-large"><img width="1200" height="487" src="https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-1200x487.png" alt="Screenshot 2023 05 05 at 10.48.28 PM" class="wp-image-300161" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-1200x487.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-300x122.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-768x312.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-1536x624.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-2048x832.png 2048w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-24x10.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-36x15.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-48x19.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-10.48.28-PM-150x61.png 150w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Binance Coin price analysis: Cryptocurrency heat map. Source: <a href="https://coin360.com/" rel="nofollow noopener" target="_blank">Coin360</a></figcaption></figure>



<h2 id="binance-coin-price-analysis-rsi-shows-increasing-market-valuation-on-daily-chart">Binance Coin price analysis: RSI shows increasing market valuation on daily chart</h2>



On the 24-hour candlestick chart for Binance Coin price analysis, price can be seen forming a consolidating pattern after the 12 percent decline from the $340 mark at the start of the month. With the current trend taking a sideways shape, BNB price could test resistance at $330 over the coming 24-48 hours. At current price, the coin sits just below the crucial exponential moving average (EMA) figure at $327, while price also sits under the 9 and 21-day moving averages on the daily chart. 



<figure class="wp-block-image size-large"><img loading="lazy" width="1200" height="813" src="https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-1200x813.png" alt="BNBUSDT 2023 05 05 23 04 44" class="wp-image-300176" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-1200x813.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-300x203.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-768x520.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-24x16.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-36x24.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-48x33.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44-150x102.png 150w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/BNBUSDT_2023-05-05_23-04-44.png 1530w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Binance Coin price analysis: 24-hour chart. Source: <a href="https://coinmarketcap.com/currencies/bnb/" rel="nofollow noopener" target="_blank">Trading View</a></figcaption></figure>



The 24-hour relative strength index (RSI) can be seen heading upwards after a brief horizontal spell. The RSI shows decent market valuation for Binance Coin at a value of 50. Moreover, the moving average convergence divergence (MACD) curve continues to show a bearish divergence in place, with the trend line hovering away from and below the signal line. 



Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Binance Coin price analysis: BNB geared to make a comeback up to the $330 mark

Table of Contents

Cryptopolitan_News

Other articles published on May 5, 2023

Deloitte Switzerland’s Partnership with Polkadot’s KILT Protocol

Polygon And Polkadot (DOT) Are Losing Holders To Tradecurve (TCRV)

Build An Explosive Portfolio This Week With These 4 Cryptos

3 Tokens Under $1 Price That Will Gain 15x in 2023: Shiba Inu (SHIB), RenQ Finance (RENQ), Cardan...

ETH Finds Bullish Momentum But Will $2K Finally Fall? (Ethereum Price Analysis)

🗒 Daily Newsletter | Friday, May 05, 2023

Join our free newsletter for daily crypto updates!