Binance Coin surges 4.49% to $585.40 with strong trading volume and bullish momentum as BNB nears the $600 resistance level.
Short positions around $583 could face pressure if BNB surpasses $590, potentially sparking volatility.price has shown robust bullish momentum of late. At press time, it was trading at $585.40, reflecting a daily rise of 4.49%.
This rise in volume has pushed the volume-to-market cap ratio to 2.46%, showing a surge in trader interest. The considerable boost in trading volume may signal further bullish movement as demand for BNB intensifies.With an observed 3.49% price increase to $582.86 over the past day, BNB displayed a consistent upward momentum. The Relative Strength Index rested at 51.61, signaling a neutral sentiment in the market.
Consequently, the lack of strong accumulation could be a caution for short-term bulls seeking stronger support. However, this metric could curb strong upward movements without a shift in market liquidity, particularly for short-term traders.Looking forward, the Bull Bear Power was slightly positive at 1.5, indicating a mild upward bias in BNB’s trading range.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance trading volume hits historical $100 Trillion milestone: Impact on BNB?Binance volume reaches $100 trillion. Market indicators shows BNB is experiencing a positive market sentiment.
Read more »
BNB eyes $600 amid Scroll’s SCR crypto launch on BinanceBNB chain yield mining triggers demand for BNB for Scroll mining. Can the cryptocurrency sustain the rally towards $200?
Read more »
Silver coin hoard from the Norman Conquest becomes Britain's most valuable coin findThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
BNB’s short-term price target – $634 may be next, but here’s what must happen firstBinance Coin (BNB) has been moving decisively lately, with its most recent gains pushing the altcoin closer to $600 at press time...
Read more »
– BNB hits ‘critical range’ as Beacon Chain’s retirement nearsBNB Smart Chain's evolution has rendered the Beacon Chain, designed to serve as a staking, governance platform for Binance Coin, redundant...
Read more »
BNB can hit an all-time high, but THESE conditions need to be met!Binance Coin (BNB) has been a fairly consistent cryptocurrency, with the altcoin recording hikes of 6.46% and 2.83% on the monthly...
Read more »