BNB (BNBUSD) Price Awaiting a Breakout at $254.2 Level

 An increase in BNB price envisaged

BNBUSD Price Analysis: 17 November

The $254.2 resistance level might be broken by buyers holding the $237.0 support level, endangering the $267.5 and $276.5 resistance levels. If buyers object to sellers at $254.2.  The most recent lows of $219.2 and $204.9 for BNB may have been reached as it closed below the crucial $237.0 barrier.

BNB/USD Market

Key levels:

Supply levels: $254.2, $267.5, $276.5

Demand levels: $237.0, $219.2, $204.9

BNBUSD Long-term Trend: Bullish

There is an increasing trend on the BNBUSD daily chart. Few weeks ago, the price of the cryptocurrency fluctuated between $219.2 and $204.9. Three weeks passed during this range movement. As the bulls gained traction, the resistance level of $219.2 shifted into a support level. Right now, buyers rule the BNB market.  The cost is rising and attempting to break beyond the $254.2 mark.

At the moment, the price of the cryptocurrency is above the 9 and 21-period exponential moving averages, indicating a positive trend. The $254.2 resistance level might be broken by buyers holding the $237.0 support level, endangering the $267.5 and $276.5 resistance levels. If buyers object to sellers at $254.2.  The most recent lows of $219.2 and $204.9 for BNB may have been reached as it closed below the crucial $237.0 barrier.

BNBUSD medium-term Trend: Bullish

The trend could improve over the next four hours. The battle between buyers and sellers is unsettling the triple bottom pattern, which was originally noticed at the $204.9 support level. Early signs suggested that buyers were trying to corner the market. BNB start to go over $219.2 and $204.9 due to the excitement of buyers. It appears that the coming week will be pleasant.

At the moment, BNB is trading close to the 9 and 21-period exponential moving averages. The upward growth of the relative strength index period 14 signal line at level 45 indicates a buy

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