Binance Coin (BNB) Price Analysis & Trade Idea
The live Binance Coin price today is $388.92 USD with a 24-hour trading volume of $1,438,811,928 USD. Binance Coin is down 5.07% in the last 24 hours. The current CoinMarketCap ranking is #5, with a live market cap of $65,391,763,898 USD. It has a circulating supply of 168,137,036 BNB coins and a max. supply of 168,137,036 BNB coins.
What is Binance Coin?
Launched in July 2017, Binance is one of the biggest cryptocurrency exchanges globally. By aiming 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.
What makes Binance Coin different?
Binance is a unique ecosystem of decentralized, blockchain-based networks. The company has grown to be the leading crypto exchange in a number of countries, and their side organizations are attracting significant interest as well.
We can see the price bouncing on the support zone around 390. One mo0re zone can be seen around 370 area and a very strong zone and a bottom of trend channel can be seen around 320 price area.
Technical Analysis:
Aggressive traders can look to enter around 390 and 370 areas with tight stops. If you are looking for a safer entry you can enter for a buy around 320-330 region with a stop below the psychological level of 300 and a target of 420-440.
We are looking for buy entries at an appropriate price with tight stops.
BNB/USD – Buy around 320-330
Stop Loss – Below 300
Target – Around 420-440
