BNB (BNBUSD) Price May Be Rejected at $237.0 Level

 Bullish momentum decreases

BNBUSD Price Analysis: 03 November

The $237.0 resistance level may be breached higher by buyers holding the $219.2 support level, endangering the $254.2 and $276.5 resistance levels. If buyers objected to sellers at $237.0.  After dropping to its most recent lows of $204.9 and $187.3, BNB might close below the crucial $219.2 barrier.

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

The daily chart of BNBUSD is positive. Last week, the price of the cryptocurrency fluctuated between $219.2 and $204.9. For three weeks, this range movement took place. The $219.2 resistance level was shifted to a support level as the bulls gained more traction. Right now, buyers rule the BNB market.  The price is rising and attempting to breach the $237.0 barrier level.

The cryptocurrency is trading above the 9- and 21-period exponential moving averages and is in a positive trend. The $237.0 resistance level may be breached higher by buyers holding the $219.2 support level, endangering the $254.2 and $276.5 resistance levels. If buyers objected to sellers at $237.0.  After dropping to its most recent lows of $204.9 and $187.3, BNB might close below the crucial $219.2 barrier.

BNBUSD medium-term Trend: Bullish

Over the following four hours, the trend might get better. The triple bottom pattern, first observed close to the $204.9 support level, is unsettled by the conflict between buyers and sellers. There were early indications that purchasers were attempting to corner the market. BNB began to rise above $219.2 and $204.9 as a result of the enthusiasm of the purchasers. The situation may remain bullish into the following week.

At the moment, BNB is trading close to the 9 and 21-period exponential moving averages. The upward growth of the relative strength index period 14 signal line at level 54 indicates a buy.

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