Binance Coin Price Analysis — November 1
Amid a quiet trading session on Monday, BNB recorded a 5% intraday rally and touched its highest point since May 17 at $543. This jump comes amid a three-day consolidation between the $540 and $510 level last weekend. That said, the third-largest cryptocurrency currently trades within an ascending channel, indicating that more upsides are likely in the near term. A retest and break above the $540 level (following the recent mild correction to $535) could consolidate the bullish bias and push the price towards $580 in the coming days. On the other hand, we could see a fall back onto the $540 - $510 consolidation range if bulls fail to retake the $540 line.
Meanwhile, my resistance levels are $540, $560, and $580, and my support levels are $520, $500, and $488.
Total Market Capitalization: $2.62 trillion
Binance Coin Market Capitalization: $89.4 billion
Binance Coin Dominance: 3.42%
Market Rank: #3
Meanwhile, my resistance levels are $540, $560, and $580, and my support levels are $520, $500, and $488.
Total Market Capitalization: $2.62 trillion
Binance Coin Market Capitalization: $89.4 billion
Binance Coin Dominance: 3.42%
Market Rank: #3
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