Binance Coin Is Overbought as It Is Stuck Below $340 Overhead Resistance

Binance Coin (BNB) price has risen to the high of $337 on August 10. This is the historical level from May 25. On May 25, buyers failed to keep the price above the $337 resistance as it fell to the low of 183. The bulls bought the dips as the altcoin resumed its upward movement.

Timeline of Bnb

Metamortals rises as an innovative platform for play-to-earn games Cryptocurrencies have been profitable to many economies of the world, especially developing nations, by improving economic and social status. Even small businesses and entrepreneurs have more control over their finances and there is easier access to capital due to the introduction of blockchain technology.

The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins.

The BNB token is emerging as a great performer even though the top crypto assets fell on 10 August. With growing fears surrounding U.S. inflation news, Bitcoin lost a crucial $23k support albeit briefly.

Double-digit inflation currently ravages most economically developed countries and has dominated headlines globally. People have seen their purchasing power drastically reduced, and if they have not seen wage increases in line with inflation, they have taken a significant pay decrease.

Binance coin (BNB) bulls look set to break key resistance with so much buying pressure that could send BNB price higher. The price of BNB looks really strong after showing some positive signs in the past few days with a lot of bids created by BNB bulls driving the price of the coin despite the market uncertainty.

After extending recent gains, bnb rose to its highest point in two months during today's trading session. The move comes following tweets from Binance CEO Changpeng Zhao, confirming a new partnership with Swiss watchmaker Franck Muller. Ethereum classic, on the other hand, was lower for a second straight session.

Binance Coin (BNB) seems to thrust upwards targeting the $350 mark with the support level spotted at $275 and resistance at $295. According to CoinMarketCap, the Binance Coin's price has spiked by 3.06% or $300.17 as of this writing.

The global crypto market couldn't retain the bullish wave as it has again turned bearish. The recent change has brought Bitcoin and others back to bearishness as the investors have pulled back.

The presale for the native token of the upcoming NFT-based metaverse game ‘Battle Infinity' has attracted a high amount of interest from early investors.  With 68 days remaining in its 90-day presale, over 8000 BNB (over $2.

Binance Coin [BNB] broke above the downtrend line on 28 July, indicating a potential trend change. In fact, at press time, BNB held a 7.5% ($6.86 billion) share of the entire market's TVL.