• Meanwhile, Binance Coin is trading between the levels of $30 and $40.
• Traders are to initiate long trades at the lower price range in anticipation of a bullish trend.

BNB/USD Medium-term Trend: Bullish

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

Yesterday, July 23, the price of Binance Coin was in a bearish trend. The bears broke the lower price range after the bulls were resisted by 26-day EMA. The bulls are making an upward move back to the range-bound zone. Traders are to initiate long trades at the lower price range in anticipation of a bullish trend.

Meanwhile, 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 levels. Nevertheless, Binance Coin is at the oversold region of the daily stochastic but above the 40% range. This indicates that the price is in the bullish momentum and a signal.

BNB/USD Short-term Trend: Bullish

On the 1-hour chart, the BNB price was in a trend. The 12-day EMA and the 26-day EMA are sloping northward. Today, the crypto’s price is above  the 12-day EMA and the 26-day EMA indicating that price is rising. The daily stochastic is in the overbought region but above the 60% 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.