BNBUSD may rebound at $204.9 level
BNBUSD Price Analysis 25 August
In case sellers keep up their pace, BNB might decline to its most recent lows of $204.9 and $187.3 before closing below the critical $167.9 level. If buyers can hold the $204.9 support level, the $219.2 resistance level can be breached higher, posing a challenge to the $236.9 and $254.2 resistance levels.
BNB/USD Market
Key levels:
Supply levels: $219.2, $236.9, $254.2
Demand levels: $204.9, $187.3, $167.9
BNBUSD Long-term Trend: Bearish
BNBUSD exhibits a bearish movement. Due to the BNB market’s low volatility last two weeks, price changes were limited to the $254.2 to $236.9 range. On August 15, sellers won the day over purchasers. The previous low of $219.2 was tested after the support level of $236.9 was breached. The $204.9 support level was achieved, and the bearish pressure is still present. At the previously mentioned level, there is a chance of a bullish reversal.
A bearish trend is observed as the currency pair is below the 9-period and 21-period exponential moving averages. If sellers keep up their pace, BNB might decline to its most recent lows of $204.9 and $187.3 before closing below the critical $167.9 level. If buyers can hold the $204.9 support level, the $219.2 resistance level can be breached higher, posing a challenge to the $236.9 and $254.2 resistance levels.
BNBUSD medium-term Trend: Bearish
Bearish movement may continue in the 4-hour time frame. As the bears’ momentum grew, the influence of the double-bottom chart pattern that had developed at the $219.2 support level was canceled out. Initial indications suggested that buyers would likely seize control of the market. After the forced price test at the $236.9 barrier level, the purchasers’ enthusiasm waned. Currently, the price is trying to break up $219.2 level.
BNB is currently trading above both the exponential moving averages of 9 and 21 periods. When the relative strength index period 14 signal line is pointing up at level 49, a buy is implied.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.
