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NewsBTC 2022-10-02 18:36:54

Binance Coin (BNB) Bulls Defends Key Zone, Will The Give Up?

BNB price creates mixed feelings on the high timeframe as price forms a descending triangle on the daily chart while an ascending triangle forms on the weekly chart. BNB looks more stable as the price aims to flip the $340 resistance to set up a bullish sentiment. The price action of the Binance Coin (BNB) continues to look strong despite the price forming a bilateral chart pattern on the daily and weekly timeframe. Surprisingly Bitcoin (BTC) movement in a range has had little effect on the price of Binance Coin (BNB), with BNB creating more hope of a better price moment in October. (Data from Binance) Related Reading: Crypto Community Predicts Polygon (MATIC) To Rise Nearly 20% By October 31 Binance Coin (BNB) Price Analysis On The Weekly Chart Despite showing a great price movement in recent weeks as the price rallied to a high of $337 before facing rejection, the price of BNB has handled the rejection pretty well as price bounced from a weekly low of $270 to a region of $283 as price holds up the key region. The price of BNB retraced to a region of $270 after a rejection that affected the price from trending higher, coupled with the news from Consumer Price Index (CPI) and Federal Open Market Committee (FOMC) having a negative impact. BNB price so far has handled the reactions very well over the weeks, with the price looking more decent in price action. BNB’s price needs to break and hold above $350 for the price to r...

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