BNB coin price experiences a surge in buying pressure and surpasses the 200-day EMA. Will the uptrend overpower sellers at $450?

Key technical points:
<ul>
 	<li style="font-weight: 400">BNB prices have increased by 1.21% in the past 24 hours.</li>
 	<li style="font-weight: 400">The uptrend challenges the $450 barrier.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Binance is $2.145 Billion, marking a 1.66% fall.</li>
</ul>
<h2>Past Performance of BNB</h2>
BNB coin price started the reversal rally from the $350 mark with a double bottom breakout resulting in a 26% jump. The uptrend surpasses all the critical EMAs in the daily chart and teases a potential golden crossover. The rally increases buying pressure and challenges the psychological barrier at $450.

<img src="https://s3.tradingview.com/snapshots/t/t9ZoTYj5.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/t9ZoTYj5/">Tradingview</a>
<h2>BNB Technical Analysis </h2>
BNB coin price action showed lower price rejection in the daily candle previous this week. Hence, the possibility of a bull run surpassing the $450 mark increases significantly.

The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment but the reversal of the 50-day EMA increases the golden crossover possibility. Moreover, the price sustaining above the 200-day EMA highlights a buying opportunity. 

RSI Indicator: The RSI slope projects a long-coming uptrend and a phenomenal rise in underlying bullishness. However, the uptrend failed to surpass the overbought boundary.

MACD Indicator: The MACD and signal lines reflect a decline in the bullish spread and increase the chances of negative crossover. Therefore, the indicator is on the verge of giving a selling signal.

The BNB technical analysis reflects a high likelihood of a freefall below the $1 mark.
<h2>Upcoming Trend </h2>
The BNB/USD technical chart projects a constant surge in buying pressure indicating a high possibility of the $450 breakout. Therefore, traders can find profitable entry spots at current market prices.

Support Levels: $425 and $400

Resistance Levels: $480 and $500

BNB Technical Analysis: Will Buyers Surpass the $450 Barrier?

BNB coin price experiences a surge in buying pressure and surpasses the 200-day EMA. Will the uptrend overpower sellers at $450?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

BNB Technical Analysis: Will Buyers Surpass the $450 Barrier?

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