Binance Coin (BNBUSD) Price: Sellers May Continue to Dominate Binance Coin Market

BNBUSD Price Analysis – August 26

Should the sellers break down the support level of $286, the price may decrease to $256 level, continue its downtrend movement towards the support level of $209. Conversely, more pressure from the buyers may push up the Binance Coin to break the resistance level of $330 which may increase further to $400 and $456 levels.

BNBUSD Market

Key levels:

Resistance levels: $330 $400, $456

Support levels: $286, $256, $209

BNBUSD Long-term trend: Ranging

Binance coin is ranging on the daily chart. The crypto was on the bullish movement since two weeks ago.  The bullish movement increase the price to the resistance level of $330. The just mentioned level holds and the price pulled back. There is an increase in the bears’ pressure and the price retested the support level $286. The bulls is trying to oppose the bears’ pressure at the moment. The price is currently consolidating at $286 level.

The Binance Coin is trading over and around the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is at 49 levels with the signal lines displaying no specific direction. Should the sellers break down the support level of $286, the price may decrease to $256 level, continue its downtrend movement towards the support level of $209. Conversely, more pressure from the buyers may push up the Binance Coin to break the resistance level of $330 which may increase further to $400 and $456 levels.

BNBUSD medium-term Trend: Ranging

BNBUSD is ranging in the 4-hour chart.  The resistance level of $330 holds and the bulls could not push the coin above it. Likewise, the support level of $286 is repelling the sellers’ pressure. The price is currently ranging within the $330 and $286 support level. Ranging movement may continue until there is a breakout.

Binance coin is hovering over and around the 9 periods EMA and 21 periods EMA as a sign of ranging market. The relative strength index period 14 is at 50 levels and the signal line pointing down to indicate sell signal.

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