BNB price may bounce from $219.2
BNBUSD Price Analysis: 24 November
Buyers holding the $219.2 support level might break the $237.0 resistance level, putting the $254.2 and $267.5 resistance levels in jeopardy. If purchasers disagree with sellers at $237.0. BNB may have closed below the critical $219.2 barrier, reaching its most recent lows of $204.9 and $187.3.
BNB/USD Market
Key levels:
Supply levels: $237.0, $254.2, $267.5
Demand levels: $219.2, $204.9, $187.3
BNBUSD Long-term Trend: Bearish
BNBUSD daily chart shows a downward trend. The cryptocurrency’s price ranged between $219.2 and $204.9 a few weeks ago. This range movement lasted for three weeks. $219.2, which had been a resistance level, became a support level as the bulls gained momentum. Buyers dominated the BNB market last week. The price increased and tested $267.5 level. On 21 November, sellers gained momentum and the price was pushed down drastically to retest $219.2 level.
As of this now, the cryptocurrency’s price is trending downward and is below the exponential moving averages with periods of 9 and 21. Buyers holding the $219.2 support level might break the $237.0 resistance level, putting the $254.2 and $267.5 resistance levels in jeopardy. If purchasers disagree with sellers at $237.0. BNB may have closed below the critical $219.2 barrier, reaching its most recent lows of $204.9 and $187.3.
BNBUSD medium-term Trend: Bearish
Over the following four hours, the trend might get better. The triple bottom pattern, which was first seen on October 15 at the $204.9 support level triggered a bullish trend. This resulted in an increase in price. The resistance level of$267.5 was tested on November 21. Sellers could not endure further increases, a strong bearish candles were produced which lowered the price to $219.2 level. Sellers are currently in charge of the market.
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 44.
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