BNB (BNBUSD) Price: Breakup at $316.2 Level Envisaged

Buyers may continue to dominate BNB market

BNBUSD Price Analysis: 19 January

Buyers holding the $290.0 support level might break the $316.2 resistance level, putting the $335.1 and $356.1 resistance levels in jeopardy. If BNB closes below the crucial $290.0 level and $326.2 holds, the recent lows of $263.3 and $237.1 will be put to the test.

BNB/USD Market

Key levels:

Supply levels: $316.2, $335.1, $356.1

Demand levels: $290.0, $263.3, $237.1

BNBUSD Long-term Trend: Bearish

The daily BNBUSD chart exhibits a declining pattern. The cryptocurrency’s price ranged between $263.3 and $237.1 a few weeks ago. This range movement lasted for three weeks. As the bulls gained traction and prevailed, the $263.3 level—which had previously been a resistance level—turned into a support level. The previous two weeks saw buyers dominate the BNB market, and the $335.1 level was tested.  The price dropped and came down to $290.0. Since last week, it has been trading anywhere between $316.2 and $290.0.

Right now, the cryptocurrency’s price fluctuates and is barely above the Hull Suite indicator.  Buyers holding the $290.0 support level might break the $316.2 resistance level, putting the $335.1 and $356.1 resistance levels in jeopardy. If BNB closes below the crucial $290.0 level and $326.2 holds, the recent lows of $263.3 and $237.1 will be put to the test.

BNBUSD medium-term Trend: Ranging

Over the following four hours, the coin may move in a range. The double bottom pattern, first observed on December 26 at the $263.3 support level, initiated a bullish trend. The outcome was price rises. The $335.1 resistance level was looked at on December 28. The price fell and reached $290.0, then it reversed course and stayed in the $316.2–$290.0 range.

Around the Hull Suite indication, BNB is trading. The upward above zero level of the QQE MOD indication signal line indicates a buy.

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