Binance Coin (BNBUSD) Price Is Ranging Within $456 and $398 Levels

Updated:

BNBUSD Price Analysis – April 22

Binance Coin may continue a bullish movement in case the support level of $398 holds. When the daily candle close above the $456 level, the resistance levels of $516and $581 may be tested. Ability to propel the price below $398 level by the bears may leads to bearish movement towards $329 and $257 levels.

BNB/USD Market

Key levels:

Supply levels: $456, $516, $581

Demand levels: $398, $329, $257

 

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook. Binance Coin change direction to bullish when the price declined to reach the support level of $329. On February 24, a chart pattern called ‘double bottom’ appeared. The price followed the direction of the chart pattern and increases to break up the former resistance level of $398. The bullish pressure extends to $456 resistance level where it is currently pulling back to retest the support level of $398.

Daily 36

The Binance Coin is trading below the two EMAs which indicate that price is carrying out a retracement. The fast moving EMA (9 periods) has crossed the slow moving EMA (21 periods) downside. Binance Coin may continue a bullish movement in case the support level of $398 holds. When the daily candle close above the $456 level, the resistance levels of $516and $581 may be tested. Ability to propel the price below $398 level by the bears may leads to bearish movement towards $329 and $257 levels.

BNBUSD medium-term Trend: ranging

Binance coin is on the ranging movement on the 4 hour chart. The buyers lose momentum over the Binance coin at the resistance level of $457 on April 05. The coin bounces towards south testing the support level of $398. The just mentioned level holds and the price commences a ranging movement within $398 and $456 levels.

4 hours 24

The Binance Coin is hovering around the 9 periods EMA and 21 periods EMA which indicate that buyers’ and sellers’ are at equilibrium.

You can purchase Lucky Block here:  Buy LBlock

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.