BNBUSD Price Analysis – October 29
Ability to break up the $503 resistance level may increase the price to $599 and $678 resistance level. Inability to break above the resistance level of $503 may reduce the price of Binance coin to $430, $364 and $311.
BNB/USD Market
Key levels:
Supply levels: $503, $599, $678
Demand levels: $430, $364, $311
BNBUSD Long-term Trend: Bullish
On the long-term outlook, BNBUSD is bullish. Binance Coin found support at $311 level on September 28. It bounces up to break up $364 and $430 levels. The price retracement was carried out. Bullish movement was restored on October 11 and the price increases to test $503 level on October 20. It pulled back last week to retest the support level of $430. Yesterday, a daily bullish candle formed to push the price above $430 level.
The fast moving EMA (9 periods) remains above the slow moving EMA (21 periods). The Binance Coin is trading above the two EMAs which indicate that bulls are holding onto the market. Ability to break up the $503 resistance level may increase the price to $599 and $678 resistance level. Inability to break above the resistance level of $503 may reduce the price of Binance coin to $430, $364 and $311.
BNBUSD medium-term Trend: Bullish
Binance coin is on the bullish movement on the 4 hour chart. The Crypto tested the support level of $430 on October 27, the bears could not push down the price further. A strong bullish candle formed which is an indication of the bulls’ interruptions. The coin increases towards the resistance level of $503. It is trying to pull back at the moment.
The Binance Coin is trading above the 9 periods EMA and 21 periods EMA which indicate that buyers are dominating the market.
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.