- On the downside, if the price continues its fall, the market will revisit the lows of $24 and $25 price levels.
- On the upside, if the bulls break above the EMAs, the crypto's price will rise and retest the $40 price level.
BNB/USD Medium-term Trend: Ranging
- Resistance Levels: $36, $37¸ $38
- Support levels: $30, $29, $28
On June 21, the Binance Coin reached a high of $40 but was resisted. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. On July 16, the downward trend was corrected at the support of the $25 price level. On July 17, the bulls made an upward move and broke the 12-day EMA but were resisted by the 26-day EMA. The price fell below the EMAs.
On the downside, if the price continues its fall, the market will revisit the lows of $24 and $25 price levels. On the upside, if the bulls break above the EMAs, the crypto's price will rise and retest the $40 price 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: Bullish
On the 1-hour chart, the BNB price is in a bullish trend. The 12-day EMA and the 26-day EMA are sloping upward. Today, the crypto’s price is fluctuating above the 12-day EMA and the 26-day EMA indicating that price is likely to rise.
The BNB coin is trading at the daily stochastic in the overbought region but below the 80% range. This indicates that price is in a bearish momentum and a sell 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.
