Binance Coin (BNBUSD): Purchasers Overcome Sellers at $300 Level
Login

Binance Coin (BNBUSD): Purchasers Overcome Sellers at $300 Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Buyers may continue to dominate Binance Coin market

BNBUSD Price Analysis – 15 April

Should buyers gain further momentum, Binance Coin might surpass its most recent highs of $332 and $345 and eventually close on the psychological level of $361. If sellers hold off against the $332 resistance level, the $314 support level can be breached on the downside, probing the $300 and $286 support levels.

BNB/USD Market

Key levels:

Supply levels: $332, $345, $361

Demand levels: $314, $300, $286

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook.  The cryptocurrency started a bearish trend when it hit a high of $345 on 18 March. The market was taken over by sellers as the bullish impetus collapsed. The price drops to the $314 level of support and has a few days of range movement. The $300 barrier was tested as the bearish trend grew. The pressure from the bulls caused the price to return to the bullish trend. It seems the price is targeting a previous high of $345. More bullish pressure could lead to more price increases.

The upward crossover of the 21-period EMA by the 9-period EMA suggests a bullish swing. Currently, Binance Coin’s price is trading above the two EMAs. Should buyers gain further momentum, Binance Coin might surpass its most recent highs of $332 and $345 and eventually close on the psychological level of $361. If sellers hold off against the $332 resistance level, the $314 support level can be breached on the downside, probing the $300 and $286 support levels.

BNBUSD medium-term Trend: Bullish

Binance Coin is bullish on the 4-hour chart. The purchasers lost steam when the price was compelled to test the $345 resistance level. After that, the bullish surge came to an end. A bearish reversal candle pattern known as bearish engulfing emerged. Pricing gradually dropped to $314, but the sellers’ momentum failed and there was a bullish reversal at just mentioned level. The price increases and currently trying to break up the $332 level.

Binance Coin is currently trading over the 9- and 21-period exponential moving averages to indicate a bullish market. The relative strength index period is 14 with the signal line pointing at 63 levels, which connote buy.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News