BNB market may breakout at $219.2 level
BNBUSD Price Analysis: 13 October
The $219.2 resistance level can be broken higher, providing a challenge to the $237.0 and $254.2 resistance levels, if buyers can hold the $204.9 support level. BNB might fall to its most recent lows of $204.9 and $187.3 before closing below the crucial $167.9 threshold if sales continue to grow at the current rate.
BNB/USD Market
Key levels:
Supply levels: $219.2, $237.0, $254.2
Demand levels: $204.9, $187.3, $167.9
BNBUSD Long-term Trend: Ranging
BNBUSD is moving in a range on the daily chart. For more than three weeks, sellers controlled the BNB market. On August 22, the price drop to $204.9, which is a strong support level. After falling back, it retested the $219.2 resistance level. The support level was once again tested on September 11 at $204.9. The third time test was carried out on September 24. Currently, the cost is between $219.2 and $204.9 levels. However, the bulls will take charge of the market if the $204.9 support level holds.
The cryptocurrency is trading above and below the 9-period and 21-period exponential moving averages and is in a sideways trend. The $219.2 resistance level can be broken higher, providing a challenge to the $237.0 and $254.2 resistance levels, if buyers can hold the $204.9 support level. BNB might fall to its most recent lows of $204.9 and $187.3 before closing below the crucial $167.9 threshold if sales continue to grow at the current rate.
BNBUSD medium-term Trend: Ranging
The trend might improve during the course of the next four hours. The significance of the triple bottom chart pattern, which originally appeared at the $204.9 support level, is that it shows that bulls are beginning to build momentum. Early signs suggested that buyers were trying to take over the market. The purchasers’ enthusiasm is growing following the forced price test at the $204.9 barrier level. Right present, it appears that the price is aiming to rise sharply to the north.
BNB is currently trading near the exponential moving averages of 9 and 21 periods. A buy is suggested by the relative strength index period 14 signal line’s upward movement at level 38.
You can purchase Lucky Block – Guide, Tips & Insights | Learn 2 Trade here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
