BINANCE (BNBUSD) Price: Would the Sellers Defend Resistance Level at $142?

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


BNBUSD Price Analysis – February 12

In case the buyers were able to push the price above the resistance level of $142 and the daily candlestick close above the level, then, the price may incline further to test $169 and $178 resistance level. Inability to break up the resistance level of $142, the price may decline to the support levels at $117, $98 and $74.

GBP/JPY Market
Key levels:

Supply levels: $142, $169, $178

Demand levels: $117, $98, $74

BNBUSD Long-term trend: Bullish

BNBUSD is bullish on the long-term outlook. The coin broke out of the consolidation zone on February 05. The bulls acquired more momentum and pushed up the coin to reach a high of $74 on February 06. The resistance at $74 level prevented further increase in price and the price pulled back to retest the broken level. The Bulls further increase their pressure to penetrate the $98 and $117 levels, the bullish momentum has extends to $142 level.

BNBUSD daily chart, February 12

The 21 periods EMA is below the 9 periods EMA and the coin is trading above the two EMAs at a distance to the EMAs. The Buyers’ pressure is gradually increasing and further price increase is envisaged. The Relative Strength Index period 14 is above 80 levels with the signal lines pointing up to indicate a buy signal. In case the buyers were able to push the price above the resistance level of $142 and the daily candlestick close above the level, then, the price may incline further to test $169 and $178 resistance level. Inability to break up the resistance level of $142, the price may decline to the support levels at $117, $98 and $74.

 BNBUSD medium-term Trend: Bullish

The bulls rule the BNB market throughout last week. The price action of BNBUSD is trying to form a double top chart pattern provided the resistance level of $142 hold the price second time. The price tested the resistance level of $142 on February 10, pulls back to retest $117 level. It is currently increasing towards the previous high.

BNBUSD 4-hour chart, February 12

The RSI indicator period 14 is at 70 levels and the signal lines bending up to indicate a buy signal.

 

You can purchase crypto coins here: Buy coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

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.

Leave a Reply

Your email address will not be published. Required fields are marked *