Annual forecast for Binance Coin (2021): Further Price Increase Is Envisaged

BNBUSD Price Analysis – December 25

The ability to break up the resistance level of $37 will expose the price to $41 and $48. In case the resistance level of $37 is defended by the bears, the price may reverse and face the $26, $24, and $22 support level.

BNB/USD Market

Key levels:

Resistance levels: $37, $41, $487
support levels: $26, $24, $22

BNBUSD Monthly Char: Bullish

The bulls dominate the BNBUSD market throughout the year 2020. The coin found support at the $12.1 level before the beginning of this year. Consolidation took place for three months. In July, the bulls gained more momentum and the price increased to break up the key resistance level of $20. The price increased towards the resistance level of $27. The bulls continuously increasing their pressure and the price level of $31 was tested and broken upside. The high of July 2019 is already reached this year.

The price has already broken up the 9 periods EMA and 21 periods EMA and the coin is trading above the two EMAs at a distance which indicates an increase in the bulls’ momentum. The ability to break up the resistance level of $37 will expose the price to $41 and $48. In case the resistance level of $37 is defended by the bears, the price may reverse and face the $26, $24, and $22 support level. The Relative Strength Index period 14 is pointing up at 70 levels to indicate a buy signal. The price may test the resistance level of $41 before it reverses in the next year 2021.

BNBUSD Weekly Chart: Bullish

The BNBUSD steadily increases this year; it means the bulls’ momentum is relatively stable in the BNB market. The price increase was triggered at the support level of $12. The resistance level of $20, $27 and $31 was penetrated to test the $37 price level on December 21.
The 9 periods EMA is found below the 21 periods EMA from the beginning of the year; meaning that the uptrend is steady.

The price is trading above the two EMAs which indicates a bullish signal. There is a high probability that BNBUSD will continue its bullish trend in 2021.
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