BINANCE COIN Price Prediction: Long-term (BNB) Value Forecast – July 7

  • The coin is in consolidation in the long-term outlook.
  • Patience trading the range for a breakout or a breakdown before taking a position.

BNB/USD Long-term Trend: Ranging

Supply zone: $60.00, $80.00, 100.00
Demand zone: $10.00, $8.00, $6.00

BNBUSD is in consolidation in the long-term outlook. The bear pressure was strong with the break of the trendline and a further drop of the coin to $27.81 in the demand area on 2nd July. Rejection for further downward price movement occurred as the candle closes with a long wick.

The bulls attempt to push price beyond $36.03 in the supply area on 4th July was rejected as exhaustion sets in.

Price is hovering between the two EMA as the new week began at $32.49 and the signal of the stochastic oscillator is undefined at 33% suggesting a sideways market in the long term.

The cryptocurrency is ranging and trading between $42.00 in the upper supply area and at $28.00 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

[beg-single-coin-widget coin='binance-coin' graph='true' coin_data='true' title='Live Binance Coin (BNB)


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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