Buyers are dominating BNB market
BNBUSD Price Analysis: 17 February
If buyers holding the $356.1 support level and manage to break through the $366.7 resistance level, they may put the $381.5 and $400.0 resistance levels in jeopardy. If BNB closes below the crucial $356.1 barrier and $366.7 holds, it will test the recent lows of $355.1 and $320.3.
BNB/USD Market
Key levels:
Supply levels: $366.7, $381.5, $400.0
Demand levels: $356.1, $355.1, $320.3
BNBUSD Long-term Trend: Bullish
The daily BNBUSD chart exhibits an inclining trend. The cryptocurrency’s price ranged between $320.3 and $296.1 a few weeks ago. This range movement lasted for three weeks. The $320.3 mark, which had been a level of resistance, became a level of support as the bulls gained strength and prevailed. For the previous two weeks, buyers controlled the BNB market, and the $335.1 level was tested. Its cost varies from $356.1 to $366.7. Right now, there is a strong push to break over the $366.7 level.
The cryptocurrency’s price is currently unstable and just over Hull Suite’s crypto signals indicator. If buyers hold the $356.1 support level and manage to break through the $366.7 resistance level, they may put the $381.5 and $400.0 resistance levels in jeopardy. If BNB closes below the crucial $356.1 barrier and $366.7 holds, it will test the recent lows of $355.1 and $320.3.
BNBUSD medium-term Trend: bullish
For the next four hours, the coin will be moving northward. When the BNB hit the $288.1 threshold, a bullish trend began. On January 25, this was observed near the $320.3 resistance level. In the end, price increases were the outcome. The $320.3 support level was broken up on February 9. The price is currently attempting to break above the $366.7 resistance level.
Right now, BNB is trading above the Hull Suite signal. When the QQE MOD indication signal line moves above zero, it indicates a buy.
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