Binance Coin Reports Significant Gains Again Reaching 15-Month High

According to our newest analysis that we have in today’s altcoin news, Binance Coin seems to be successfully reaching new gains after the 70% monthly gains which means it managed to reach to a stunning 230% price increase over the past three months.

Binance Coin is currently trading at $17.30 and the token is ranked on the seventh position on the largest cryptos by market cap list with a cap of $2.4 billion. After breaking the $17.47 price point, Binance Coin reached a new high which also means that it has reached successfully 15-month high against the US at $.17.73. With a growth that led the altcoin to the $15 mark, we can see that the last time it was over $15 was in early June 2018 during the bullish momentum. Since then, BNB has dropped to a low of $4.50 but managed to retrace this month, becoming one of the top performing altcoins of 2019 and making a staggering 150% this year alone.

After our previous BNB analysis, we can see that the coin has gone up again and hasn’t stopped. The coin broke the previous resistance point at $16.80 and has still continued to increase past the resistance point of $17.46. If the bulls keep going above the $17.50 point, we should see another higher resistance level above the $18 area or even above the $19 point before reaching $20.28 where the 1.272 Fibonacci extension level lies.

It seems like the support for the BNB coin stands at $16.80 or at $15.30 and $14.88. The 4-hour RSI shows that the market needs time off or a healthy correction before continuing to go higher on the scale. The analysis shows that the volume is relatively high as well.

From the previous analysis, it’s visible that the coin has gone past the 0.0042 BTC resistance and it has continued to climb higher before getting rejected and reaching the previous resistance level at 0.00498 BTC.

The Binance Coin is in an overbought area so we can expect for a healthy correction. It is possible that the market will undergo another correction phase before breaking past the previous explained resistance point but there could also be a little divergence between the price and RSI factor which confirms that the market may drop again before it increases in the following month.