BNBUSD Price Analysis – January 21
In case the bears break down the support level of $419, the price may decline to $364 level, continue its downtrend movement towards the support level of $254. On the other hand, more pressure from the buyers may push up the Binance Coin to break the resistance level of $503 which may increase further to $599 and $678 levels.
BNBUSD Market
Key levels:
Resistance levels: $503, $599, $678
Support levels: $419, $364, $254
BNBUSD Long-term trend: Bearish
Binance coin is bearish on the daily chart. The coin was on the bullish movement last week. The movement was interrupted at $503 resistance level. There was a bearish engulfing candle formation at the same level. Bears’ pressure increased with the formation of strong daily bearish candle that pushes the price to retest the support level of $419. The price is currently making attempt to penetrate $419 level.
The Binance Coin is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is pointing downside at 30 levels indicating sell signal. In case the bears break down the support level of $419, the price may decline to $364 level, continue its downtrend movement towards the support level of $254. On the other hand, more pressure from the buyers may push up the Binance Coin to break the resistance level of $503 which may increase further to $599 and $678 levels.
BNBUSD medium-term Trend: Bearish
BNBUSD is bearish in the 4-hour chart. The sellers finally exerted more pressure on the Binance coin yesterday. The price breaks down the dynamic support levels and testing $419 level. It is pulling back at the moment.
Binance coin is trading below 9 periods EMA and 21 periods EMA as a sign of bearish market. The relative strength index period 14 is at 20 levels and the signal line pointing up to indicate buy signal.
You can purchase crypto coins here. Buy Tokens
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.