Buyers are taking over BNBUSD market gradually
BNBUSD Price Analysis: 14 March
If buyers can hold onto the $5585 support level and break above the $586.5 resistance level, they might be able to drive the price to test the $606.1 and $642.6 resistance levels. If BNBUSD can break through the crucial $558.5 barrier, it should target the previous lows of $537.0 and $516.3.
Key levels:
Supply levels: $586.5, $606.1, $642.6
Demand levels: $558.5, $537.0, $516.3
BNBUSD Long-term Trend: Bearish
The BNBUSD’s daily chart is negative. The price of the cryptocurrency began to fall on December 9 and started from $642.6 to $586.5. Although the $606.1 barrier offered some resistance, the bears broke it as their power increased. The market is dominated by selling as BNB recently jumped below $586.5. At the expected resistance level, there were signs of a bearish reversal. The price’s recent flip at $586.5 indicates that sellers would take a greater offer, which is consistent with the decreasing trend. The price fell after retesting at its prior peak of $642.6. It currently costs roughly $558.5.
The Hull Suite FX indicators show that the price of the BNBUSD is currently falling below the crypto currency signals. If buyers can hold onto the $5585 support level and break above the $586.5 resistance level, they might be able to drive the price to test the $606.1 and $642.6 resistance levels. If BNB can break through the crucial $558.5 barrier, it should target the previous lows of $537.0 and $516.3.
BNBUSD medium-term Trend: Bullish
The coin’s positive effects have the potential to increase the price of BNBUSD during the next four hours. The BNB tested at $516.3 and then started to rise. We learned that $729.0 had been paid in total on February 3. The bears’ enthusiasm caused the price to fall below the goal level. The lowest price was $516.3 yesterday. The price is getting close to $586.8 today.
The BNB trade is above the Hull Suite indicator. Significant buying is indicated when the QQE MOD indicator’s signal line is above zero.
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