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The BNB coin faces a significant challenge due to a recent lawsuit filed by the SEC. Binance Coin Price Predictions 2023-2032 Price Predictions by Cryptopolitan With the price increase, the bullish momentum remains intact despite the correction, leading to the anticipation of a potential breakout above this level in the upcoming days. The coin is expected to close in the green as it continues to test resistance at $247. The Binance Coin price analysis points to a successful performance by the bulls at the start of the day. What to expect from Binance Coin price analysis

The upper and lower Bollinger bands are positioned at $243.7 and $241, respectively, while the RSI score is also decreasing in the upper half of the neutral zone at index 58. The distance between the Bollinger bands is almost the same. The Bollinger Bands average has come to $242.4, while the moving average has reached $242.9, and the SMA 20 curve has been trending above the SMA 50, indicating potential upward momentum. However, the coin is still trading in green, and the deficit is relatively small. Today’s chart also portrays the same scenario: after an initial spike, the coin has been correcting again. The 4-hour price chart indicates that Binance Coin has faced persistent bearish pressure in the past. Binance Coin price analysis on the 4-hour chart: Recent developments and further technical indications The Relative Strength Index (RSI) score has also increased, now measuring 50, indicating buying activity in the market. While the Bollinger Bands average rests at $243.3 above the SMA 20, volatility has been the same. The current moving average (MA) is near $243.3, positioned below the present price. The Bollinger Bands values show the upper band at $251.7, representing resistance, and the lower band at $234.8, indicating support for BNB. Yesterday showcased signs of bearish dominance, but today’s price increase to $243.2 is a significant development. And it has experienced a slight increase of about 2.08 percent over the past week.

Despite the upward price movement observed over the past week, the last day proved crucial, as the coin recovered a bit, but the coin has managed to increase by 0.45 percent in the last 24 hours. The 1-day Binance Coin price analysis reveals positive trends, encouraging buyers to further drive up the asset’s value. BNB price analysis on a daily timeframe: Expectations rise for a potential bullish breakout The support level is at $238, and if the bullish trend continues to gain steam, the price may recover more. The bulls need to gather more strength for a break above this resistance zone. The coin is expected to encounter resistance at the $247 level, as it has been testing this area for the past few days. The latest Binance Coin price analysis for July 31, 2023, suggests that the bullish momentum has returned again, causing the coin’s price to recover to $243.2.