Binance Coin (BNBUSD) Price Sinks as US Dollar Rallies

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Binance coin is decreasing

BNBUSD Price Analysis – 18 November

When buyers oppose the sellers at the $256 level, Binance coin may increase to $276, $300, and $330 resistance levels. In case sellers break down the $256 support level, the price may decrease toward the $239 and $219 support levels.

BNB/USD Market

Key levels:

Supply levels: $276, $300, $330

Demand levels: $256, $239, $219

BNBUSD Long-term Trend: Bearish

BNBUSD is bearish on the long-term outlook. Buyers were in control of the Binance coin market throughout last month till 08 November. The bullish momentum pushed the Crypto to a test a high of $361 resistance level. The bulls could not break up the resistance level of $361. More bearish candles were produced as Sellers gained more pressure and the price declined to the support level of $256. The coin pulled back to retest the $300 level. At the moment, it is decreasing toward the previous low.

The price is trading below the two EMAs indicating that Sellers are dominating the market at the moment and the fast-moving EMA (9-periods) has crossed the slow-moving EMA (21-periods) downside. When buyers oppose the sellers at the $256 level, the price may increase to $276, $300, and $330 resistance levels. In case sellers break down the $256 support level, the price may decrease toward the $239 and $219 support levels.

BNBUSD medium-term Trend: Bearish

Binance coin is on the bearish movement on the 4-hour chart.  The resistance level of $361 stands as a strong barrier to the Binance coin’s bullish movement. An increase from the sellers pushes the coin to break down the $330 and $300 support levels. The $256 support level was eventually tested. Further price decrease is possible.

The Binance Coin is trading below the 9-periods EMA and 21-periods EMA which indicates that sellers are in control of the Binance coin market.

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