Binance Coin (BNBUSD) Is Recovering From Last Month Loss

Updated:

BNBUSD Price Analysis – September 09

When bulls break up the $288 resistance level by the buyers, price may move towards the $330 and $400 resistance levels. An interruption by the bears’ momentum may break down the support level of $286, then, Binance Coin may reduce to $256 and $209 levels.

BNB/USD Market

Key levels:

Supply levels: $288, $330, $361, $400

Demand levels: $286, $256, $209

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook. The buyers are trying to take over of the Binance coin market. The Crypto followed the direction of the chart pattern called inverted head and shoulder formed last month. It is the pattern that triggers a bullish movement towards the resistance level of $330. The resistance level of $330 hold the price and the price pulled back to retest the support level of $286. At the moment, price is breaking up the resistance level of $286.

Buyers’ pressure is increasing to dominate the Binance coin market as the price is trading above the two EMAs. The fast moving EMA (9 periods) is crossing the slow moving EMA (21 periods) upside to indicate an increase in the bulls’ momentum. When bulls break up the $288 resistance level by the buyers, price may move towards the $330 and $400 resistance levels. An interruption by the bears’ momentum may break down the support level of $286, then, Binance Coin may reduce to $256 and $209 levels.

BNBUSD medium-term Trend: Bullish

Binance coin is on the bullish movement in the 4 hour chart.  The Binance coin is heading towards the resistance level of $330 after the pullback observed from $330 level. The price is breaking up the resistance levels of $300. More pressure from the bulls may lead to the breaking up of the mentioned level.

The Binance Coin is trading above the 9 periods EMA and 21 periods EMA which indicate that buyers are in control of Binance coin 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.