BNB (BNBUSD) Price: Buyers May Defend $1080.3 Position

Price may bounce up at $1080.3

BNBUSD Price Analysis: 24 October

Buyers may be able to push the price to test the resistance levels of $1317.0 and $1317.5 if they can hold onto the $1080.3 support position and break above the $1166.8 resistance position. If BNB can break below the critical $1080.3 hedge, it should target the prior lows of $1023.5 and $994.5.

Key levels:

Supply levels: $1166.8, $1317.0, $1317.5

Demand levels: $1080.3, $1023.5, $994.5

BNBUSD Long-term Trend: Bearish

The cryptocurrency’s price peaked at $1317.5 last week. The just mentioned level was tested twice which led to the forming of a chart pattern called “double top”. The BNBUSD map shows a bearish trend every day. The pricing’s most recent flip at $1317.0, which is consistent with the adding pattern, shows that customers were not willing to spend more. Bears repelled some resistance, guarded the hedge of trees, and refrained from threatening $1080.3 as their power increased. After being challenged at that level, BNB recently fell below $1080.3, indicating that sellers who resisted the bulls’ advance were successful in dropping towards the expected target. The price is now pulling back at $1080.3.

The price of BNBUSD is presently declining below the cryptocurrency’s indicators, according to the Hull Suite FX statistics. Buyers may be able to push the price to test the resistance levels of $1317.0 and $1317.5 if they can hold onto the $1080.3 support position and break above the $1166.8 resistance position. If BNB can break below the critical $1080.3 hedge, it should target the prior lows of $1023.5 and $994.5.

BNBUSD medium-term Trend: Bullish

The benefits of the crypto could result in a four-hour incline in the price of BNBUSD. The BNB tested at $1317.0 and then began to decline. On October 4, we discovered that the total amount paid exceeded the amount specified. The bears’ rage caused the price to flip below the target level. The price that was tested was $1166.8. Due to consumer demand, the price is rapidly declining to reach its previous low of $1021.8. At the moment, it is gradually increasing towards $1166.8.

The dwindling BNB trade is reflected in the Hull Suite. A signal line above zero on the QQE MOD index indicates significant buying.