BNB (BNBUSD) Price: Double Top Chart Pattern at $1317.0 Line

Bears defend $1317.0 point

BNBUSD Price Analysis: 17 October

If buyers can hold onto the $1023.5 support position and break above the $1080.3 resistance position, they might be able to drive the price to test the resistance levels of $1166.8 and $1317.0. BNB should aim for the previous lows of $994.5 and $899.4 if it can break below the crucial $1023.5 hedge.

                                                            Key levels:

Supply levels: $1080.3, $1166.8, $1317.0

Demand levels: $1023.5, $994.5, $899.4

BNBUSD Long-term Trend: Bearish

On October 07, the price of the cryptocurrency increased from $899.4 to the $1317.0 barrier level and form a double top chat pattern.. Every day, the BNBUSD map displays a bearish trend. Customers were not be willing to pay more, as indicated by the pricing’s most recent flip at $1317.0, which is in line with the adding pattern. Bears held off some opposition, protected the forested hedge, and declined to threaten $1080.3 when their strength increase. BNB just decline below $1080.3 level after being challenged at that level, suggesting that purchasers who withstood the bulls’ advance were successful in declining towards the anticipated goal. As the price continues to fall and the bears gain strength, it is currently at $1023.5.

The Hull Suite FX statistics show that the price of BNBUSD is currently falling below the cryptocurrency’s indicators. If buyers can hold onto the $1023.5 support position and break above the $1080.3 resistance position, they might be able to drive the price to test the resistance levels of $1166.8 and $1317.0. BNB should aim for the previous lows of $994.5 and $899.4 if it can break below the crucial $1023.5 hedge.

BNBUSD medium-term Trend: Bearish

The currency’s advantages may cause the price of BNBUSD to fall by four hours. The BNB started to decrease after testing at $1317.0. We found out on October 04 that the total sum paid was more than the stated amount. The price flipped below the target level due to the bears’ fury. $1166.8 was the price that was tested. The price is falling quickly to hit its prior low of $1021.8 due to customer demand.

The Hull Suite reflects the declining BNB trade. On the QQE MOD index, a signal line below zero denotes substantial selling.

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