BNB (BNBUSD) Upward Trend Still Dominate

BNB (BNBUSD) Price Forecast: August 16

Today, the upward trend still dominates the BNBUSD market as the crypto market continues to gain traction above the supply levels, sparking renewed optimism among investors, with the pair showing an upward momentum. In recent days, there has been a notable positive trend in the coin. As the coin price continues to rise in the dynamic cryptocurrency market, the increased purchasing pressure might push the price to the $880.0 upper resistance level if the coin closes over the $869.2 current supply mark.

Key Levels:
Resistance Levels: $867.0 $868.0 $869.0
Support Levels:    $764.0, $763.0, $762.0

BNB (USD) Long-term Trend: Bullish (Daily Chart)

Despite the slight moves by the short traders, the BNBUSD price still trades in an uptrend and remains bullish on higher time frames.
The upward trend may continue as the coin prices remain above the moving average, indicating a bullish trend.

However, the previous action at the $858.3 high level has sustained the crypto price above the trend line in its recent high.

The price action of BNB at the $869.2 supply level over the moving average shortly after the opening of the daily chart today indicates a high buying level from the bulls.

Therefore, a bullish breakout from the current resistance could trigger the recovery pattern and drive BNB higher to the upper resistance value, reflecting growing confidence among investors in an upward trend market.

Additionally, under the influence of this market level, the BNBUSD price could rise steadily and break through the current price to reach the $880.0 upper resistance level soon, as the crypto price remains in an upward trend in the long-term perspective.

BNB (USD) Medium-term Trend: Bullish (4H Chart)

The market value has increased by 3.41% as the BNBUSD prices continue their upward trend on the medium chart, breaking the previous high of $858.2. The prices are above the moving averages and have proven strong momentum.
The recent high of the cryptocurrency was caused by the preceding action’s persistent positive push to a high level of $853.8.

The 4-hourly chart commences, indicating an upward trend, and the bulls push the token price to a high of $869.2 above the EMA-50, indicating that the BNB market is still dominated by upward pressure today.

Therefore, the potential may push the coin price toward the upper channel, increasing profit for coin holders, if the cryptocurrency makes a strong rally from its current supply value.

A favorable advance is also suggested by the price indicator, which is pointing upward. In this case, according to its medium-term estimate, the BNBUSD pair may increase and continue to rise to the $880.0 upper supply mark in the next days.

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