Binance Coin (BNB) Price Analysis for December 14

General

Denys Serhiichuk

When can traders expect further upward move of Binance Coin (BNB)?

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Bulls are trying to get back in the game, according to CoinStats.

BNB chart by CoinStats

BNB/USD

Unlike other coins, the rate of Binance Coin (BNB) has dropped by 0.19%.

Image by TradingView

On the hourly chart, the price of BNB is approaching to the local support level of $248.2. If the daily candle closes around that mark, one can expect a breakout, followed by a blast to the $245 zone.

Image by TradingView

On the daily time frame, the rate of BNB is trading within yesterday’s candle, which means that none of the sides has seized the initiative yet.

In this regard, ongoing sideways trading around $250 is the more likely scenario for the next few days.

Image by TradingView

On the weekly chart, traders should pay attention to the bar closure in terms of the resistance of $261.7. If it happens near that level, the growth may continue to the $270-$280 zone.

BNB is trading at $250.2 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.

Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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