Binance (BNBUSD) Price: Bears Oppose Bulls at $457 Level, Further Price Declination Envisaged

Updated:

BNBUSD Price Analysis – April 15

The price may decline further towards the previous low of $330. In case, the daily candle closed below the $395 level, then, the price may decline to $330 and $256 support levels. Should the bulls break up the resistance level of $457, price may reach $516 and $581 resistance levels.

BNB/USD Market

Key levels:

Supply levels: $457, $516, $581

Demand levels: $395, $330, $256

BNBUSD Long-term Trend: Bearish

BNBUSD is bearish on the long-term outlook. The bears are holding to the Binance Coin market; this scenario commenced when the coin reached the resistance level of $654. The bulls were unable to break up the barrier at the level just mentioned. The bears moved in to the market with full force; this is noticed with the formation of strong daily bearish candles that pushed the price down to the support level of $330. The support level rejects the price and it commences ranging movement.

Daily 25

The Binance Coin continue its trading below the two EMAs which indicate that bears are dominating the market while the fast moving EMA (9 periods) remains below  the slow moving EMA (21 periods). The price may decline further towards the previous low of $330. In case, the daily candle closed below the $395 level, then, the price may decline to $330 and $256 support levels. Should the bulls break up the resistance level of $457, price may reach $516 and $581 resistance levels. The relative strength indicator is at 40 levels bending upside which indicate buy signal.

BNBUSD medium-term Trend: Bearish

Binance coin is on the bearish movement on the 4 hour chart. After the consolidation that took place at the resistance level of $457. The bears prevailed over the bulls and the price decreased sharply to the support level of $395. It pulled back to retest the previous high. The coin is currently ranging within the support level of $395 and resistance level of $457.

4hours 26

The Binance Coin is trading around the 9 periods EMA and 21 periods EMA which indicate that low sellers and buyers momentum in the Binance market.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.