Over the past 12 hours, Binance Coin (BNB) has maintained its upward trajectory, currently trading at around $600. This surge comes as the broader cryptocurrency market experiences renewed bullish sentiment. BNB’s current Relative Strength Index (RSI) is around 61, indicating that while it’s approaching overbought territory, there is still room for additional gains (cryptonewszCrypto) (Futures Market Data).
BNB has encountered strong support around the $580 to $590 range, with resistance expected near $620 and $660. Analysts predict that if BNB breaks through these resistance levels, it could test the upper end of its current range by the end of October (cryptonewsz) (Investing.com).
Technical indicators such as the 50-day and 200-day moving averages remain bullish, supporting a continued uptrend. However, traders are cautioned to watch for any pullback toward the $580 support level, as breaking below this could signal a correction (Crypto Futures Market Data).
Overall, the market sentiment around BNB remains positive, supported by Binance’s continued expansion and high trading volumes across global markets (Investing.com).
