Binance Coin (BNB) price analysis; BNB price soaring to all time high

The price of Binance (BNB) is increasing and is close to its all-time high range. However, constant fluctuations in BNB price has been observed over time.

On May 27, the price was increased above thirty-six dollars ($36.1), and on June 5, the price dropped down around twenty-eight dollars ($28.52) and then on the next day, the price increased around thirty-two dollars ($32.21). The coin was trading inside the ascending triangle.

On June 12, there was a break out in the price as the price surged to thirty-four dollars ($34). The support line started from May 18 and is now colliding with ascending triangle line.

Binance Coin BNB price chart by Trading View

The technical indicator RSI was high till the middle of April, and after that, it starts to decline. There is bearish divergence and therefore, price depreciates.

The previous analysis shows that after the bearish patterns there were signs of reversal. The price drops below the twenty-nine dollars ($29), but there are chances that the price will increase again.

On June 7, there was a bearish cross on the chart and it points out to the downtrend. Recently, there is an upward movement in the price of BNB. So, nothing can be said for sure as there is a lot of volatility.

Binance Coin BNB price chart by Trading View

The resistance region lies near to thirty-seven dollars ($37) and this crucial point is linked with the maximum price of the coin and is said to be the last region of resistance.

Fib-retracement is being utilized for the speculation of the price and it indicates the resistance region around forty-seven dollars ($47).

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