Binance Coin Attempts To Break Out Above Crucial Resistance

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In Brief
  • BNB has broken out from a descending resistance line but is facing resistance at $24.

  • Daily technical indicators are bullish.

  • BNB/BTC has formed significant long-term bullish divergence.

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The Binance Coin (BNB) price has broken out from a long-term resistance area. If the price successfully moves above $24, it is likely to accelerate its rate of increase. Breakout From Long-Term Resistance The BNB price had been following a descending resistance line since June 2019, when the price reached a high of $41.15. The price has been increasing since but has just reached the $24

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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