Binance Coin is currently in a strong uptrend, and the $470 support still holds. Later today, we anticipate BNB/USD to move back toward the $510 mark and complete the several-day retracement.
On the downside, we can expect Binance Coin to continue with a bullish momentum as long as the $470 support holds. Crucially, this is now beginning to act as a key horizontal support level. As such, we expect BNB/USD to consolidate at this level before continuing with the uptrend. We can see that NB/USD has been following an ascending channel since its breakout from the October 30th low at $375. The relative strength index (RSI) is also consolidating around 55 levels which shows that neither party is currently in control of the price action.
On the downside, we can expect Binance Coin to continue with a bullish momentum as long as the $470 support holds. Crucially, this is now beginning to act as a key horizontal support level. As such, we expect BNB/USD to consolidate at this level before continuing with the uptrend. We can see that NB/USD has been following an ascending channel since its breakout from the October 30th low at $375. The relative strength index (RSI) is also consolidating around 55 levels which shows that neither party is currently in control of the price action.