Binance Coin (BNB) Price Analysis for December 23

23 December 2023

in BNB

Reading Time: 2 mins read

Denys Serhiichuk

Can traders expect upward move by Binance Coin (BNB) next week?

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Buyers keep controlling the situation even at the beginning of the weekend.

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BNB/USD

The rate of Binance Coin (BNB) has not changed since yesterday.

Image by TradingView

On the hourly chart, the price of BNB has made a false breakout of the local support level of $265.9.

If the daily bar closes far from that mark, there is a chance to see a test of the resistance of $272 tomorrow.

Image by TradingView

A different picture is on the daily time frame. The rate is located near the resistance of $274.9. If bulls can hold the gained initiative, the breakout may lead to a blast to the $280-$290 zone soon.

Image by TradingView

From the midterm point of view, traders should pay attention to the level of $271.9. If the situation does not change and the candle closes around the current prices, one can expect a test of the $300 area shortly.

BNB is trading at $269.9 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 denys.serhiichuk@u.today.