• BNB is currently trading at $33 after the best recovery among the major coins.
  • A series of positive announcements and launches by Binance have boosted the value of BNB coins significantly.

BNB was the first major coin to recover from the crash on September 3. Not only BNB has recovered from a low of $18, but it’s getting a ton of continuation, increasing by almost 86% in value over the past nine days.

BNB/USD Weekly Chart

bnb price

The Binance utility token has broken out of a long-term symmetrical triangle and faces very little resistance until the all-time high at $39.59. The next resistance point would be located at $34.83. BNB price has already surpassed the Fibonacci retracement level at $31.72, which was a significant resistance level.

BNB bulls could be concerned about the weekly overextended RSI; however, in the past, an overextension of this indicator didn’t really stop the price of BNB from surging higher. 

BNB/USD Daily Chart

bnb price

Binance Coin managed to finally set a new 2020-high on September 12 after climbing above $27.19 and closing the day at $28.53, followed by more continuation moves towards $33.38. Of course, the RSI is overextended, and BNB could see a pullback in the short-term, perhaps towards the 0.236 Fibonacci Retracement line at $31.72. A more significant pullback would happen towards $27.19, which practically coincides with the Fib 0.382 Retracement level.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Fed’s Powell calls for proper crypto regulations as Bitcoin price shoots beyond $20,000

Fed’s Powell calls for proper crypto regulations as Bitcoin price shoots beyond $20,000

Bitcoin price is exploring highs above $20,000 on Tuesday after holding support at $18,800 for nearly four days. Green sprouts are noticeable across the market, led by Uniswap price’s 16.70% move to $6.60

More Bitcoin News

Ethereum price eyes $1,450 as post-Merge tax problems arise

Ethereum price eyes $1,450 as post-Merge tax problems arise

Ethereum price shows a steady climb over the last twelve hours as a direct consequence of the sudden spike in Bitcoin price, which influences the whole crypto market. 

More Ethereum News

XRP price cools off before preparing for its next 100% rally

XRP price cools off before preparing for its next 100% rally

XRP price shows an interesting development in the lower time frame that hints at a potential retracement. The higher time frame scenario also entertains the possibility of a deeper pullback after its recent explosive move.

More Ripple News

MATIC Price Prediction: These signals are key to catching Polygon’s 20% rally

MATIC Price Prediction: These signals are key to catching Polygon’s 20% rally

MATIC price continues to consolidate around the range low for more than a week and shows no signs of breaking out. Investors should pay close attention and anticipate the bullish resurgence, which could trigger an explosive move.

More Polygon News

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.

Read full analysis

BTC

ETH

XRP