BNB (BNBUSD) Upward Trend Still Dominate

BNB (BNBUSD) Price Forecast: October 7

Today, the upward trend still dominates the BNBUSD market as the crypto market sparked renewed optimism among investors, with the pair showing bullish momentum on the daily stochastic. The entire market is up by 10.95% and headed for higher highs as derivatives traders turn overwhelmingly bullish on the asset. As a result, if the buying pressure continues, the token price may rise sharply and reach the resistance level of $1,250, extending to the upper high of $1,360, creating a strong momentum rally and presenting an opportunity for interested traders.

Key Levels:
Resistance Levels:  $1,238.00 $1,239.00 $1,240.00
Support Levels:     $603.00, $602.00, $601.00

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

The upward trend still dominates the BNB long-term chart despite the inflows from the sell traders.
The pair is gaining momentum as it broke over the resistance trend levels and hit a new high, suggesting a bullish market trend. But at the most recent high, the market is approaching the upper barrier.

Due to persistent bullish pressure at the high value of $1,189.18 during the previous session, the pair managed to maintain its position above the supply levels at its most recent high.

The price of BNBUSD is currently at the $1,223.84 resistance level above the EMA-50 as the daily session begins today, suggesting an uptrend at the time of writing.

This could push the price of the coin towards an exciting previous peak level of $1,250.00, providing buyers a good entry point and drawing in new investors to the network.

Additionally, the daily stochastic indicates an uptrend. Hence, there is a tendency for the BNB price to rise further.

In light of this, if the support level at $1,137.71 holds, buyers may drive the coin price to the $1,260.00 upper resistance level, bolstering further recovery in the upcoming days.

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

As it breaks over the resistance trend line for potential growth in the medium-term outlook, the BNBUSD pair exhibits a stunning bullish continuation.
The fact that the price is rising above the moving averages indicates that buyers are more active in the market.

The bulls’ strong momentum at the $1,167.57 supply value in the previous session enabled the cryptocurrency price to remain strong above the resistance trend line.

Today, the BNB price anticipates for an increase as it rises to a $1,220.72 supply value above the EMA-50 on the 4-hourly chart, encouraging buyers to invest in the asset because potential future gains are assured.

Meanwhile, the BNBUSD market exhibits rising momentum on the daily signal, indicating that the pair will continue to grow to the upsides, bringing the crypto price to the $1.245.00 upper resistance trend line in the next days, as it overcomes selling pressure in its medium-term perspective.

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