Convergence

Gather

Coin

Divergence

The post <a href="https://coinpedia.org/price-analysis/bnb-coin-price-gather-bullish-sentiment-is-binance-prepared-for-a-breakout-rally/">BNB Coin Price Gather Bullish Sentiment! Is Binance Prepared For A Breakout Rally?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry continues to display volatile trends as the market constantly faces significant price fluctuations in its value. Further, the BNB coin price displayed a notable uptrend in its value for the first time after a week, indicating a possibility of an increasing bullish sentiment in the crypto space. 
The <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/">Binance coin price</a> traded in a closed range between $238.2 and $247.2 for a while, after which the bulls gained momentum and broke out of the range. The rally was short-lived as the price faced rejection at $255.5, following which the price was pulled back within the closed range. 
After trading sideways for a while, the bulls regained momentum and jumped over 10%, after which it faced rejection at $272. Following this, the BNB price recorded a correction of 16%. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/hz-_OAVfkI4cO-yGQonGNVCTJz9aVPtz89jUJnsRq8H7LR9m18eAepMGUUoBZGEAZKPc-e2jiz2hRgaebjxmzDqzOeNCXDo4f4WzGyMvhrGocTdEqZw028IPKjqZhUaM7h9TUv6Nm99unw9IfB_8kqg3eWDerOvkVXp__F5QQErpyOncZnkzbT-AIUGxJQ" alt="Binance Coin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BNB/USDT
 </figcaption>
</figure> 
The price traded in a consolidated range between $222.7 and $238.3 for a brief period, after which the bulls regained momentum and jumped 7% before facing rejection at $255.5. 
Since then, the price has been trading under a bearish influence until recently, when the coin displayed a trend reversal and recorded a jump of 5% within the past day. 
The Moving Average Convergence Divergence (MACD) displays a rising histogram, indicating an increase in the buying pressure. Moreover, the averages show a bullish convergence, suggesting the price will continue gaining power in the coming time. 
<h2 class="wp-block-heading" id="h-will-the-bnb-price-go-back-up">Will The BNB Price Go Back Up?</h2> 
If the bulls gain power and push the price above the resistance level of $247.2, the BNB price will regain momentum and run to test its upper resistance level of $255.5 this week. 
Further, if the market holds the price at that level, the Binance coin price will attempt to test its key resistance level of $264.8. 
Negatively, if a trend reversal occurs, the BNB coin price will lose momentum and fall to test its support level of $238.2 soon. Moreover, if the bears overpower the bulls, it will plunge further and prepare to test its lower support level of $230.2 by the month-end.

BNB Coin Price Gather Bullish Sentiment! Is Binance Prepared For A Breakout Rally?

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