- Summary:
- Binance Coin has recorded subtle movements after its weekend gains. Further rise for BTC will likely reflect on BNB.
Binance Coin price has declined from the weekend’s high while holding steady above the October’s crucial level of $450. Notably, most altcoins have recorded limited action in Monday’ session as investors eye the leading crypto- Bitcoin.
Altcoins tend to move in a comparable trend to Bitcoin. BTC is hovering around $62,000, which is close to the weekend’s high of 62,955.75. As investors eye the higher target of $65,000, Binance Coin price will likely record further gains in the short term.
Binance Coin Price Prediction
BNB is hovering around 470 after reversing some of the gains recorded over the weekend. On Saturday, the altcoin rose to an intraday high of 484.49; its highest level in over a month.
Since the beginning of October, Binance Coin price has surged by about 26.25%. At the time of writing, it was up by 0.23% at 472.00. On a two-hour chart, it is trading slightly above the 25 and 50-day exponential moving averages.
While I remain bullish on the altcoin, I expect it to be subject to heightened volatility in the ensuing sessions. However, it will probably remain above October’s key resistance-turn-support zone of 450.
In the immediate term, Binance Coin price will likely continue to find support along the 25-day EMA at 468.71. Below that level, the support level to watch out for is the 50-day EMA at 465.03. On the upside, the bulls are eyeing a retest of the weekend’s high of 484.49. Additional bullish momentum will place the next target at the psychological level of 500.
