BINANCE COIN Price Prediction: Long-term (BNB) Value Forecast – June 9
- The bears are in the dominance of the long-term outlook of the cryptocurrency.
- Traders may look to sell at price exhaustion area with bearish candlestick.
BNB/USD Long-term Trend: Bearish
Supply zone: $50.00, $70.00, 90.00
Demand zone: $10.00, $8.00, $6.00
BNBUSD is in a bearish trend in the long-term outlook. The close of the daily candle on 2nd June as a doji nullify the bulls’ journey to the upperline of the channel. Hence the return of the bears with a large bearish candle at $50.00. BNB dropped initially to $29.61 breaking the 10-EMA a support area and later to $28.06 in the demand area on 4th June.
The week saw brief bulls return with the cryptocurrency price up at $32.84 in the supply. This should be seen as a market correction and a confirmation of the bearish continuation.
The new week is starting bearish with price break down at the trendline and a drop in price to $50.00 in the demand area. A close below the line will open the support at 50-EMA for a retest i.e $27.55 with $20,00 in the demand area as the second bears' target.
Live Binance Coin (BNB) Price:
1 BNB/USD =$226.3280 change ~ 3.10%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.