BNB (BNBUSD) Price Is Retesting $237.0 Level

Bullish momentum increases

BNBUSD Price Analysis: 27 October

When buyers hold the $219.2 support level, the $237.0 resistance level might be broken higher, posing a threat to the $254.2 and $276.5 resistance levels. If sellers opposed buyers at $237.0.  BNB may close below the critical $219.2 mark, having previously fallen to its most recent lows of $204.9 and $187.3.

BNB/USD Market

Key levels:

Supply levels: $237.0, $254.2, $276.5

Demand levels: $219.2, $204.9, $187.3

BNBUSD Long-term Trend: Bullish

BNBUSD on the daily chart is bullish. The crypto was range-bound between $219.2 and $204.9 levels last week. This ranging movement lasts for three weeks. The bulls gained more momentum and the former resistance level of $219.2 was turned to the support level. Buyers dominate the BNB market at the moment.  The price is increasing and it is trying to break up the resistance level of $237.0 level.

The cryptocurrency is in a bullish trend and is trading above the 9- and 21-period exponential moving averages. When buyers hold the $219.2 support level, the $237.0 resistance level might be broken higher, posing a threat to the $254.2 and $276.5 resistance levels. If sellers opposed buyers at $237.0.  BNB may close below the critical $219.2 mark, having previously fallen to its most recent lows of $204.9 and $187.3.

BNBUSD medium-term Trend: Bullish

The trend might improve over the next four hours. The battle between buyers and sellers upsets the triple bottom pattern, which was initially seen near the $204.9 support level. Early signs suggested that buyers were trying to corner the market. The price starts to move above $219.2 and $204.9 in response to the buyers’ momentum. The bullish situation may continue till next week.. BNB is currently trading in proximity to the exponential moving averages with periods of 9 and 21. A buy is indicated by the relative strength index period 14 signal line’s upward increase at level 54.

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