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Buyers are dominating BNB market
BNBUSD Price Analysis: 26 January
The $335.1 and $356.1 resistance levels could be in peril if buyers holding the $297.0 support level smash the $316.2 resistance level. It will test the recent lows of $263.3 and $237.1 if BNB closes below the critical $297.0 barrier and $316.2 holds.
BNB/USD Market
Key levels:
Supply levels: $316.2, $335.1, $356.1
Demand levels: $297.0, $263.3, $237.1
BNBUSD Long-term Trend: Bearish
There is a downward trend visible in the daily BNBUSD chart. A few weeks ago, the price of the cryptocurrency fluctuated between $263.3 and $237.1. Three weeks passed during this range movement. The $263.3 level, which was formerly a resistance level, became a support level as the bulls gained momentum and won. Buyers dominated the BNB market over the preceding two weeks, and the $335.1 level was put to the test. The price decreased, reaching $297.0. It is currently pulling back today with the formation of a bullish daily candle.
The price of the cryptocurrency is now erratic and just below the Hull Suite indication. The $335.1 and $356.1 resistance levels could be in peril if buyers holding the $297.0 support level smash the $316.2 resistance level. It will test the recent lows of $263.3 and $237.1 if BNB closes below the critical $297.0 barrier and $316.2 holds.
BNBUSD medium-term Trend: bullish
The coin may move to the moon for the next four hours. A bearish trend started when the price reached the resistance level of $316.2. This was noticed on January 20 near the $316.2 resistance level. Price decreases were the result. On January 25, the $297.0 support level was examined. The price bounces and currently moving toward $316.2 resistance level.
BNB is trading above the Hull Suite indicator. A buy is indicated by the QQE MOD indicator signal line’s upward movement above zero.
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