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Binance Coin (BNB) Prediction for July 30

Aug 1, 2024 #仮想通貨
Binance Coin (BNB) Prediction for July 30コインチェーン 仮想通貨ニュース

Binance Coin (BNB) shows a bullish short-term trend but remains range-bound, with potential consolidation between $560 and $590.

Points

  • BNB dropped by 2.62% over the last day.
  • The hourly chart indicates a bullish trend towards $576.40.
  • On the bigger time frame, BNB is trading within a range of $560 to $590.
  • Low volume confirms sideways trading.

The rise of Binance Coin (BNB) has halted, with a 2.62% drop in the last day. Despite this, the hourly chart shows a bullish trend as BNB approaches the local resistance level of $576.40. If the bar closes near this level, a breakout followed by a move to the $580 zone is possible.

On the larger time frame, BNB is far from both support and resistance, indicating neither side is ready for a sharp move. This is confirmed by low trading volume, suggesting that sideways trading between $560 and $590 is the most likely scenario.

From a midterm perspective, the picture is similar. If the weekly candle closes around current prices

, traders may witness ongoing consolidation between $550 and $600. At press time, BNB is trading at $574.40.

Explanation

  • The short-term bullish trend in BNB suggests a potential move towards the $580 zone.
  • The larger time frame indicates a period of consolidation, with key support and resistance levels providing a trading range.
  • Low trading volume suggests a lack of momentum for significant price movements.
  • Understanding these trends helps traders identify potential breakout or breakdown points.

BNBUSD Chart

BNBUSD Chart