Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ethereum Dominates DeFi, Solana, Bitcoin, BSC, Tron, and Others among Top 10 

July 30, 2025

Bookkeeping Prices for Small Business: What to Expect in 2025

July 30, 2025

The 10 largest American IPOs of all time

July 30, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Wednesday, July 30
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Crypto»BNB bulls eye $604, but technical indicators suggest…
Crypto

BNB bulls eye $604, but technical indicators suggest…

September 16, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

  • The momentum on the daily chart was on the verge of shifting towards a bullish direction.
  • The sentiment of short-term speculators was bearish.

Binance Coin [BNB] bulls set their sights on reaching the high end of the range at $604 after a dip to $471 in the first week of September. Buyers have demonstrated determination in defending the demand zone at local lows.

While technical indicators provided mixed signals, some gains could be expected in the upcoming days. The buying pressure was not consistent enough to guarantee a breakout at this point.

The key psychological level of $550 was within reach for the bulls

Binance Coin 1-day TradingViewBinance Coin 1-day TradingView

Source: BNB/USDT on TradingView

The market structure on lower timeframes, such as the 4-hour chart, favored the buyers. The range formation saw its lows around $464 almost retested in early September. The subsequent price bounce has pushed BNB above the mid-range resistance at $535.

On the daily chart, the MACD indicator formed a bullish crossover, indicating that upward momentum was gaining traction. The indicator was also approaching the neutral zero line, suggesting a potential shift in trend.

Despite this, the On-Balance Volume (OBV) did not surpass previous highs, and trading volume remained subdued. As a result, the likelihood of a strong rally in BNB was low, but a gradual push towards $604, the range high, was possible.

Futures market indicated a temporary bullish sentiment

BNB CoinalyzeBNB Coinalyze

Source: Coinalyze

Since September 12th, the funding rate has mostly been positive. Open Interest also saw a slight increase on the 11th and 12th but has remained stagnant since then. During this period, the price has fluctuated between $540 and $560.


Read Binance Coin’s [BNB] Price Prediction 2024-25


This shift indicated that the bullish sentiment from the previous week had waned, giving way to uncertainty. The recent drop in Open Interest suggested a bearish sentiment in the short term. The spot Combined Volume Delta (CVD) has seen a significant uptrend in the past few days, indicating strong demand.

Although the signals were contradictory, the high CVD and the reclaiming of the mid-range resistance were positive signs pointing towards a move to the range highs.

Disclaimer: The information provided does not constitute financial, investment, trading, or any other form of advice and is solely the opinion of the writer.

Next: Despite Ethereum’s recent decline, why ETH can still reach $4.7K

BNB Bulls eye indicators suggest Technical
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum Dominates DeFi, Solana, Bitcoin, BSC, Tron, and Others among Top 10 

July 30, 2025

Helios Blockchain Partners ZNS Connect to Launch Web3 Naming on Testnet

July 30, 2025

Will ADA outperform Bitcoin? – Charles Hoskinson’s 100x prediction explained

July 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

FirstFT: Decision day in America

November 5, 20240 Views

An agent’s guide to kitchens and baths throughout the decades

November 13, 20241 Views

Trump’s trade tariffs hit Europe as it reels from his Ukraine deal with Putin

February 14, 20250 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Crypto

Ethereum Dominates DeFi, Solana, Bitcoin, BSC, Tron, and Others among Top 10 

July 30, 20250
Personal Finance

Bookkeeping Prices for Small Business: What to Expect in 2025

July 30, 20250
Investment

The 10 largest American IPOs of all time

July 30, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.