Binance Coin (BNBUSD) Is Targeting $300 as Market Gets Traction
Login

Binance Coin (BNBUSD) Is Targeting $300 as Market Gets Traction

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

 Buyers’ momentum increases in Binance Coin market

BNBUSD Price Analysis – 13 January

Binance Coin may hit heights of $330 and $361 if buyers get traction and push it beyond the $300 resistance level. Price may drop to the $256 and $240 support levels if sellers exert more pressure and drive the price below the $276 level of support.

BNB/USD Market

Key levels:

Supply levels: $300, $330, $361

Demand levels: $276, $256, $240

BNBUSD Long-term Trend: Bullish

The long-term forecast for BNBUSD is one of upward progression. When the price was rejected at the $300 resistance level on November 28. The sellers’ pressure increased, and the last support level of $276 was broken. The previous support level of $256 failed to hold, and the cryptocurrency fell toward $240 level. The Binance Coin market reached the $219 support level. The price bounced up and rose to the $256 barrier level on December 22. Between the $256 and $240 levels when the price started to converge. On January 4, the pressure from the buyers increased, and the price broke through the $256 and $276 levels. It is currently targeting $300 resistance level.

Binance Coin is trading above the 21-period EMA and the 9-period EMA. The fast EMA (9 periods) has crossed the slow EMA (21 periods) upside. Binance Coin may hit heights of $330 and $361 if buyers get traction and push it beyond the $300 resistance level. Price may drop to the $256 and $240 support levels if sellers exert more pressure and drive the price below the $276 level of support.

BNBUSD medium-term Trend: Bullish

Binance Coin is moving in a bullish pattern on the 4-hour chart. On December 17, the Binance Coin tested the $219 support level due to the downward trend it has been experiencing. A solid pin bar formed, indicating increased pressure from the bulls. The $240 resistance level is broken as the price rises. The price of the coin is currently higher than $276.

The Binance Coin is currently trading above the 9- and 21-period exponential moving averages, which show that buyers’ momentum is stronger than the bears.

You can purchase Lucky Block here. Buy LBLOCK

  • 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News