As the broader cryptocurrency market observed a bullish market sentiment over the last 24 hours, the Binance Coin price analysis shows that BNB has climbed above the $250.00 mark and approaches the $275 price level as the bulls charge through.
The MACD indicator shows strong bullish momentum for BNB. The EMAs are currently trading high above the mean position as net price movement over the last seven days remains positive. However, as the markets observe selling activity, the EMAs show signs of a bearish convergence.
The RSI has been trading very high in the neutral region for the past three days as BNB observed strong bullish activity over the short-term charts. However, the index dropped to the 60.00 level today as BNB faced resistance at the $270 mark.
The Bollinger Bands have been wide for the last couple of days as the price volatility continued to increase. Today, the bands continue to diverge as the price breaks above the upper limit of the indicator.
Overall, the 4-hour Binance Coin price analysis issues a buy signal, with 14 of the 26 major technical indicators supporting the bulls. On the other hand, only three of the indicators support the bears showing a low bearish presence in recent hours.
Traders should expect BNB to break above the $275.00 mark in the next two days as BNB approaches the $300 price level. The suggestion is reinforced by the mid-term technical analyses, both of which are bullish at press time.