BNB (BNBUSD) Price Commences a Down Trend

BNBUSD market is dominated by sellers

BNBUSD Price Analysis: 25 July

Buyers may be able to push the price to test the resistance levels of $840.0 and $866.0 if they can hold onto the $756.0 support position and break above the $792.6 resistance position. If BNBUSD can break below the critical $756.0 hedge, it should target the prior lows of $729.9 and $692.5.

Key levels:

Supply levels: $792.6, $840.0, $866.0

Demand levels: $756.0, $729.9, $692.5

BNBUSD Long-term Trend: Bearish

The price of the cryptocurrency rose from $662.0 to $729.9 on July 10. The BNBUSD map shows a bullish trend each day. The price’s most recent flip at $756.0, which is consistent with the adding pattern, suggests that buyers might not accept a lower offer. As their strength increased, bulls were able to penetrate the forenamed hedge and get past some opposition and tested $866.0. Bulls momentum failed and could not penetrate the mentioned level BNB’s latest fall below $792.6 targeting $756.0 indicates that sellers are in control.

The price of the BNBUSD is currently falling below the cryptocurrency’s indicators, according to the Hull Suite FX data. Buyers may be able to push the price to test the resistance levels of $840.0 and $866.0 if they can hold onto the $756.0 support position and break above the $792.6 resistance position. If BNB can break below the critical $756.0 hedge, it should target the prior lows of $729.9 and $692.5.

 

BNBUSD medium-term Trend: Bearish

Over the following four hours, the benefits of the currency can lead to a decline in the price of BNBUSD. After testing at $662.0, the BNB began to rise. On July 14, we learned that a total of $729.9 had been paid. The bulls’ rage caused the price to flip above the goal level. The price tested $866.0. The price increase was resisted by sellers, and it is now declining back towards the $756.0 mark.

The growing BNB trade is not reflected in the Hull Suite. A signal line below zero on the QQE MOD index indicates significant selling.

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