The BNB price chart shows a trend continuing within the consolidation range as Bitcoin takes a hike to the $34K mark. With the Binance price starting a positive cycle from the psychological mark of $200, the uptrend shows a high possibility of positive continuation.
With the improving market conditions teasing a rise in crypto traders, the Binance price predictions are optimistic for the coming years.
As the uptrend continues to gain momentum, the BNB price exceeds the 50-day EMA and completes a positive cycle successfully. The uptrend approaches the overhead ceiling at $280 before retesting the $270 mark.
Following the retest, the buyers regain trend control and tease a new breakout attempt to surpass the $280 supply zone. However, the possibility of a double top pattern arises in the daily chart with the neckline at $270.
Currently, the BNB price trades at $226.9 with an intraday rise of 1.11% and showcases a high possibility of a breakout if the momentum sustains. Following the range breakout, the unleashed momentum will increase the possibility of a golden crossover.
Technical Indicators:
EMA: With a positive turnaround, the 50-day EMA rises higher and approaches the 200-day EMA, teasing a crossover event.
MACD indicator: The growing uptrend leads to a positive crossover in the MACD and signal lines. Moreover, the rising trend in the histograms teases a growth in momentum.
Will Binance(BNB) Price Reach $280?
Considering the uptrend in the overall market continues, the BNB price may capitalise on the recovery and cross the $230 mark. Further, the uptrend may crack above the $250 mark, and the 200-day EMA may prolong the uptrend to $300.
Conversely, a reversal from $230 will plunge the Binance coin price lower to $200.
