BNBUSD Price Analysis – January 28
An increase in the sellers’ momentum will push down the Binance Coin to break the support level of $364 which may decrease further to $311 and $254 levels. Inability to break down the support level of $364 by the bears, BNBUSD will break up the $419 and bullish trend may continue to the resistance levels at $503, and $599.
BNBUSD Market
Key levels:
Resistance levels: $419, $503, $599,
Support levels: $364, $311, $254
BNBUSD Long-term trend: Bearish
On the daily chart, Binance coin is bearish. The bearish breakout at the former support level of $599 last three weeks give more power to the sellers to push down the crypto towards the support level of $419 last two week. The bearish momentum increased when a big daily bearish candle formed which break down the $419 and $364 level was reached. The price is currently pulling back.
The coin is trading below the 9 periods EMA and 21 periods EMA at close contact; this indicate that the bears’ momentum is decreasing in the Binance coin market. The Relative Strength Index period 14 is at 40 levels with the signal lines pointing up to indicate buy signal. An increase in the sellers’ momentum will push down the Binance Coin to break the support level of $364 which may decrease further to $311 and $254 levels. Inability to break down the support level of $364 by the bears, BNBUSD will break up the $419 and bullish trend may continue to the resistance levels at $503, and $599.
BNBUSD medium-term Trend: Bearish
BNBUSD is bearish in the 4-hour chart. The price was ranging within the $419 and $364 levels at the moment. The bears exerts more pressure and there was a breakout at the $599 level. The price decline to the support level at $364 after breaks down the support levels of $503 and $419. At the moment, the bears’ momentum and the bulls’ momentum seems to be equal.
Binance coin is trading around 9 periods EMA and 21 periods EMA which indicate a ranging market.
You can purchase crypto coins here: Buy coins
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
