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27 September 2020

Can Binance Coin hit $40? BNB faces last hurdle before all-time highs

Can Binance Coin hit $40? BNB faces last hurdle before all-time highs


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Due to the dropdown of Bitcoin (BTC), the price of Binance Coin dropped severely, as the level at $18 saw a test of this support.

The chart shows that the next resistance zone is found between $32-35 and that’s the area that’s currently being tested by the fifth-ranked cryptocurrency by market capitalization. .

If the price of Binance Coin breaks above this red area, a test of the all-time high levels seems very likely.

However, it’s the first time that the cryptocurrency would test this red area, which means that a breakout in one-go is less likely as sellers should step in.

But if the price of Binance Coin drops below $31, traders should expect a test of potential support zones at $28 and $26. 

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