What do the Long-Term Technicals Predict for BNB (BNB) Thursday?

Thursday, February 22, 2024 06:33 AM | InvestorsObserver Analysts

BNB receives a strong long-term technical score of 91 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, BNB holds a superior long-term technical analysis score than 91% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.

InvestorsObserver is giving BNB a 91 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on BNB!
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Trading Analysis

The current trading price of $380.860000000 for BNB is $96.0800000 (33.74%) above the coins 100-day moving average of $284.780000000. BNB meanwhile is $177.2000000 (181.61%) above its 52-week low of $203.660000000 and -$5.21000000 (96.06%) under its 52-week high price of $386.070000000. BNB's current price relative to the coins long-term average and 52-week high and low, gives the crypto a strong long-term technical score of 91. The price movement and range of BNB suggest that investors are neutral on the coin at this time. BNB has a market capitalization of $56,954,914,078.72 and a relatively high average daily volume with $15,808,748,114.70 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, BNB's volume is below its seven day average with 2,393,542,285.68 exchanged. This coin's subclass Payments/Other: A coin used as payment for good and services or middle-man platform that allows investors to use other cryptocurrencies for payments, money transfers, withdrawals, deposits, and other functions. These coins are typically more specialized than the Digital Money coins that try to replicate all the functions of cash.

Summary

Technical analysis of BNB over the past year results in the crypto receiving a a strong long-term technical score of 91 as its price movement in that time has given traders reason to be neutral on the coin in the long-term. Click Here to get the full Report on BNB (BNB).

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