BINANCE COIN PRICE ANALYSIS & PREDICTION (December 5) – BNB Hits New ATH Following A 20% Surge, Face Rejection

As altcoins continued to show strength this week, BNB joined the advanced uptrend and broke out to a new high. It appears highly bullish on the daily chart due to rising demand in the past few days. Last month was an interesting ride for the bulls as they pushed through several resistances to reclaim the crucial $600 level. After managing to tap the $687 level, BNB fell and ended the month in a consolidation. Pulling back slightly, it retested $615 yesterday and mounted support there. The price bounced back and increased consistently until it broke through $721.8 (previous all-time high) to the new $793.8 high today. Looking at the breakout, which was characterized by engulfing candles, BNB appears strongly bullish on the daily chart with no sign of selling. It saw a rejection and retraced to $771 at the time of writing. Right now, the bears are off the market. While the bulls are fully back in action, bigger price movements can be expected in the long term. A further drop from the current trading level could bring a slight retest of the previous ATH before breaking higher. Technically, the current surge in volatility marks an end to the huge accumulation around the crucial $600 level. A massive explosion lies ahead! BNB Key Level To Watch Source: Tradingview BNB just faced rejection at the $793.8 level while targeting $800. Flipping through these mentioned levels, $820 and $850 would be the next levels to watch for an increase. Now that the price is retracing, the closest support level for a retest is $721.8, followed by the $687.7 level. Below it lies the $660 level. Key Resistance Levels: $793.8, $800, $820 Key Support Levels: $721.8, $687.7, $660 Spot Price: $771.8 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: ximagination/ 123RF // Image Effects by Colorcinch