• The Binance Coin is trading between the levels of $30 and $40.
• On the downside, if the bears break the lower price range, or the $30 price level, the crypto’s price will further depreciate to the previous low of $24 price level.

BNB/USD Medium-term Trend: Bullish

• Resistance Levels: $36, $37¸ $38
• Support levels: $30, $29, $28

Yesterday, July 9, the price of BNB  was in a bearish trend. The bears broke the 12-day EMA and the 26-day EMA as the crypto’s price tests or breaks the lower price range. The 12-day EMA and the 26-day EMA are sloping horizontally indicating that price is in a sideways trend. The Binance Coin is trading between the levels of $30 and $40.

On the downside, if the bears break the lower price range, or the $30 price level, the crypto’s price will further depreciate to the previous low of $24 price level. On the other hand, if the bulls defended the $30 price level, the crypto will continue its range bound move within the confined level. Nevertheless, Binance Coin is at the oversold region of the daily stochastic but below the 40% range. This indicates that the price is in the bearish momentum and a sell signal.

BNB/USD Short-term Trend: Bearish

On the 1-hour chart, the BNB price was in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. Today, the crypto’s price is fluctuating below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. The BNB coin is trading at  $29.67 as at the time of writing. The daily stochastic is in the overbought region but above the 20% range. This indicates that price is in a bullish momentum and a buy signal.

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