BNB (BNBUSD) Price: Sellers Hold Unto Market

Bullish reversal envisaged in BNBUSD market

BNBUSD Price Analysis: 12 December

If buyers can maintain the $875.3 support position and break above the $901.7 resistance position, they might be able to drive the price to test the resistance levels of $962.9 and $994.5. BNB should aim for the previous lows of $833.5 and $736.4 if it can break below the crucial $875.3 hedge.

                                                              Key levels:

Supply levels: $901.7, $962.9, $994.5

Demand levels: $875.3, $833.5, $736.4

BNBUSD Long-term Trend: Bearish

The price of the cryptocurrency peaked at $1317.5 over the past few weeks; testing the aforementioned level twice produced the “double top” chart pattern; the BNBUSD map displays a bearish trend every day; consumers were unwilling to spend more, as shown by the pricing’s most recent flip at $1317.0, which is consistent with the adding pattern; as their power declined, Bears protected the tree hedge, endured significant resistance, and BNB simply fell below $962.9 after being challenged, suggesting that sellers who opposed the bulls’ advance were successful in bringing the price closer to $875.3.

The Hull Suite FX analytics show that the price of BNBUSD is currently falling below the indications for the cryptocurrency. If buyers can maintain the $875.3 support position and break above the $901.7 resistance position, they might be able to drive the price to test the resistance levels of $962.9 and $994.5. BNB should aim for the previous lows of $833.5 and $736.4 if it can break below the crucial $875.3 hedge.

 

BNBUSD medium-term Trend: Bearish

The price of BNBUSD could drop by four hours due to the benefits of the cryptocurrency. The BNB began to decline after testing at $1317.0. On October 4, we discovered that the total amount paid exceeded the declared amount. The bears’ rage caused the price to drop below the target level. The price tested was $962.9. Due to customer demand, the price is rapidly declining to its prior low of $875.3.

The diminishing BNB trade is reflected in the Hull Suite. A signal line below zero on the QQE MOD index indicates significant selling.

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