Binance Coin Price Prediction: Break of Resistance Clears the Path to $500 – InvestingCube


Binance coin continues to add to its daily gains over the past week, as it looks set to claim a 5th consecutive day of gains. 

These moves come as the exchange continues to attract attention by listing new products, running new promotions, and conducting campaigns to increase its reach in non-regulated markets. 

The Binance coin price prediction that was predicated on the double bottom pattern has played out as expected, with the price expected to complete a measured move that could terminate at $500 if the current resistance is broken. The price is presently testing an intraday resistance that bulls need to breach to meet the price expectations.

Binance coin is presently up by 4.89% as of writing.

Binance Coin Price Prediction Outlook

The Binance Coin price prediction provided on Wednesday is playing out as predicted. The close of the daily candle above the neckline by more than 3% penetration confirmed the double bottom, setting the stage for an advance of the BNB/USDT pair above 400.00. The price is now testing the resistance at 427.63, formed by the previous low of 18 April. A break above this level opens the door towards 450.91, with an additional upside target at 481.15 (24 April and 17 May lows).

On the flip side, rejection at 427.63 could allow for a pullback to retest the 388.35 price level, now acting as role-reversed support.

Below this level, additional targets to the south are found at 350.00 and 279.23 (2nd bottom in the pattern).

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BNB/USDT Daily Chart

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