Launched in July 2017, Binance is the biggest cryptocurrency<a href="https://www.cryptoknowmics.com/news/binance-to-launch-1-billion-fund-to-grow-its-smart-chain/"> exchange</a> globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance. Changpeng Zhao is the founder and CEO of Binance. Let us look at the technical analysis of BNB.
<h2><b>Past Performance</b></h2>
BNB <a href="https://www.cryptoknowmics.com/news/bnb-technical-analysis-there-is-a-risk-of-the-fall-to-210/">opened</a> seven days ago on 13 October 2021 at $444.41. The week saw an uptrend with a change of 9.8% with a close at $488.15 on 19 October 2021.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/q/qKBR2sRb.png" alt="TradingView Chart" />

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Source: <a href="https://www.tradingview.com/x/qKBR2sRb/">https://www.tradingview.com/x/qKBR2sRb/</a>
<h2><b>BNB Technical Analysis</b></h2>
The BNB continued its uptrend in the last week. Higher highs and higher lows were seen, with a little resistance in between. Today’s trading price, however, is 0.7% down at $484.7 as compared to yesterday.

<strong>OBV</strong> is showing an uptrend. This means that the buying pressure is overpowering the selling pressure consistently. This is a strong bullish signal and traders may take a long position.

<strong>RSI</strong> is moving in the higher region near the overbought region’s boundary. It is currently at 64.77%. This is again a bullish signal and traders may take a long position. However, the trend may reverse itself after hitting the overbought region.

<strong>MACD</strong> is confirming the last week’s uptrend as a lagging indicator. This can be seen as both the lines are moving upwards and are in the positive region. This is also a signal that the traders may take a long position. There is no divergence from the price chart.
<h2><b>Day-Ahead and Tomorrow</b></h2>
Fib numbers show that the trend has crossed the Fibonacci pivots at $419.32 and $450 during this uptrend.

Thus, the indicators are more on the bullish side and the bull trend is expected to continue for BNB. The traders may take a long position here. The target can be kept at $509.2 and stop-loss at $472.1.

BNB Technical Analysis: Continued Uptrend in the Last Week

In the technical analysis, BNB Fib numbers show that the trend has crossed the Fibonacci pivots at $419.32 and $450 during this uptrend. Thus, the indicators are more on the bullish side and the bull trend is expected to continue for BNB. The traders may take a long position here. The target can be kept at $509.2 and stop-loss at $472.1. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

BNB Technical Analysis: Continued Uptrend in the Last Week

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