Binance Coin (BNB) rises to all-time high

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Binance Coin (BNB) rises to all-time high – Altcoins turn upward

Besides Bitcoin (BTC), the altcoins in particular are continuing to rally. The sector rotation continues unabated and is currently reviving many high-flyers of 2017.

Although Bitcoin (BTC) can also form a new all-time high this week and almost climb to the next important psychological mark of USD 50,000 at USD 49,730, many altcoins are currently stealing the show from the cryptocurrency. After it was primarily Bitcoin Up cryptocurrencies from the DeFi sector in recent months, it was many crypto-legacies such as Dash (DASH) or Litecoin (LTC) that shone with a strong performance in the past trading week. In contrast, the highflyer of the last few weeks, Dogecoin (DOGE), fell significantly in value this week and slipped back to 13th place after a short visit among the top 10 altcoins.

Price analysis based on the value pair BNB/USD on Binance

The price of’s own cryptocurrency has been trending significantly northwards in the last two trading weeks, reaching a new all-time high of USD 150. In addition to the strong influx of new customers on the world’s largest crypto exchange, it is the announcement of new Initial Coin Offerings (IOS) on the basis of the Binance chain that is causing an increasing demand for BNB coins. In the last 14 trading days, the BNB price has risen by more than 200 percent.

Bullish variant (Binance Coin)

The BNB price reached the 423 Fibonacci extension of the overarching price movement at the beginning of the trading week and has thus reached a strong resistance area. Although the price is currently trending slightly below its all-time high at USD 132, as long as it can stabilise above the cross-support of the EMA20 (red) and the super-trend at USD 94, a new attack towards the 461 Fibonacci extension at USD 161 should take place. If the price of BNB also breaks above this resistance level, the 561 Fibonacci extension at USD 194 will come into the focus of investors. If demand remains high in the wake of the factors mentioned, a rise to the 661 Fibonacci extension is also conceivable in the medium term. In the medium term, the NBB price should therefore settle above the USD 100 mark and could reach even higher price levels in the course of the year.

Bearishe variant (Binance Coin).

If, on the other hand, the BNB price slides back below the EMA20 (red), the correction could initially extend to the 200 Fibonacci extension at USD 73. This is also the breakout level from Monday, 8 February. If this support is also dynamically undercut, a correction towards the USD 60 (161 Fibonacci extension) and below it to the USD 52 (138 Fibonacci extension) is conceivable. In this area, the EMA100 (yellow) is currently running, which is why the bulls are expected to fight back more strongly. If the NBB price also falls below this moving support in the course of a correction on the overall market, a retest of the breakout area between USD 44 and USD 39 should be planned. This is also the EMA200 (blue), which should be seen as the maximum bearish price target for the coming weeks. Investors should currently try to take advantage of possible corrections to the support levels mentioned for new long entries.

Indicators: RSI and MACD in overbought condition

The RSI reached its weekly high at 91 and is currently trending slightly south. It is thus reducing the overbought condition. With a value of 82, it nevertheless shows a clear buy signal. The MACD indicator also shows the same, supporting the bullish assessment. On a weekly basis, the picture is similar. Like the MACD, the RSI has activated an active buy signal, which supports the medium-term bullish valuation of BNB.

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