Binance Coin (BNB) market update: BNB/USD shines to a 14-months high
- Binance rises to a 14-month high at $22.00 amid general market recovery.
- BNB buyers battles to reclaim position above $20.00; all eyes set on $22.00.
BNB/USD has been on an incredible upward trajectory since the beginning of 2019. In the last three months, the digital asset has increased by 69% from $6 on January 1 to the current $19.55. Binance Coin has surprised in people in the market following its amazing performance even in a down trending market.
Binance Coin reacted alongside other cryptocurrencies on the market today breaking past $20.00 to form a 14-months high at $22.00. The 4-hour chart shows the crypto trading at $19.55 while both the 200 SMA and the 200 SMA struggle to catch up with the bulls.
Although there has been a correction from the intraday high, BNB is still strongly bullish. Besides, the RSI in the 4-hour range has spiked into the overbought and is in no hurry to retract. Trading above $20 is key to further upside correction that could in the short-term clear the resistance at $22.00. In the event, the bulls are rolled out of the market and the bears take over BNB/USD declines will find support at $18.00, the 200 SMA 4-hour, $16.00, the 100 SMA 4-hour, $14.00 and the main support at $10.00.
BNB/USD 4-hour chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
