Buyers’ momentum may increase
BNBUSD Price Analysis: 17 January
If buyers can hold onto the $686.2 support level and break above the $730.0 resistance level, they might be able to drive the price to test the $756.0 and $792.6 resistance levels. If BNB can break through the crucial $686.2 level, it should target the previous lows of $662.0 and $607.2.
Key levels:
Supply levels: $730.0, $756.0, $792.6
Demand levels: $686.2, $662.0, $607.2
BNBUSD Long-term Trend: Bullish
The BNBUSD daily chart is moving up. The price of the cryptocurrency began to increase on November 6 and went from $585.5 to $756.0. The bulls gained strength and burst above the $662.0 barrier, which offered some resistance. When BNB increased to $686.2 the previous week, buying took over the market. At the expected resistance level, there were signs of a negative reversal. The price’s recent reversal around $756.0 indicates that sellers may accept a higher offer, which is in contrast to the upward trend. The current price is above $686.2.
The Hull Suite FX indications show that the price of the BNBUSD is currently inclining above the cryptocurrency signals. If buyers can hold onto the $686.2 support level and break above the $730.0 resistance level, they might be able to drive the price to test the $756.0 and $792.6 resistance levels. If BNB can break through the crucial $686.2 level, it should target the previous lows of $662.0 and $607.2.
BNBUSD medium-term Trend: Bullish
Over the next four hours, the coin’s negative effects can lead to an incline in the price of BNBUSD. The BNB tested at $756.0 and then started to fall. We learned that $662.0 had been paid in total on December 4. The bears’ zeal caused the price to drop below the goal level. The lowest price last week was $686.2. Today, the price is climbing towards $730.0.
The BNB trade is above the Hull Suite indicator. Significant buying is indicated when the QQE MOD indicator’s signal line is above zero.
Start using a world-class auto trading solution
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
