BNB (BNBUSD) Price Is Targeting $810.0

BNB may go below $834.4 level

BNBUSD Price Analysis: 30 January

Buyers may force the price to test the resistance levels of $916.9 and $960.2 if they can hold the $834.4 support level and break above the $864.0 resistance level. If BNB falls below the critical $634.4 support level, it should aim for the previous low levels of $810.0 and $792.6.

                                                               Key levels:

Supply levels: $864.0, $916.9, $960.2

Demand levels: $834.4, $810.0, $792.6

BNBUSD Long-term Trend: Bearish

The price of the cryptocurrency fell to $8310.0 in recent weeks, and when this level was reached twice, the chart showed a “double bottom” pattern. The BNBUSD chart showed a daily upward trend. The most recent price increase to $960.2, which fits the positive trend, indicates that customers are now spending more. As the bulls’ power weakened, the bears resisted the $960.2 level, faced significant opposition, and ultimately led BNB to drop below $864.0, indicating that the sellers who challenged the bulls’ advance were successful in bringing the price closer to $834.4.

 

The price of BNBUSD is currently declining below the anticipated values for the cryptocurrency, according to Hull Suite FX analysis. Buyers may force the price to test the resistance levels of $916.9 and $960.2 if they can hold the $834.4 support level and break above the $864.0 resistance level. If BNB falls below the critical $634.4 support level, it should aim for the previous low levels of $810.0 and $792.6.

BNBUSD medium-term Trend: Bearish

The price of BNBUSD is expected to drop even more due to the broad pessimism.
After testing the $960 barrier, the price of BNB started to fall. On January 4, it was found that the total amount paid was lower than the amount declared. The bears’ pressure caused the price to rise above the goal level. The price breaks down around $864.0 due to strong selling pressure, and it is getting close to its previous low of $834.4.

The decline in BNB trade is also seen in the Hull Suite. A signal line on the QQE MOD index with values less than zero indicates strong selling pressure.

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