BNB (BNBUSD) Price: Signs of Rejection at $254.2

 Weak Buyers’ momentum

BNBUSD Price Analysis: 15 December

The $254.2 resistance level might be broken by buyers holding the $237.0 support level, endangering the $267.5 and $276.5 resistance levels. If neither the vendors nor the buyers find $237.0 acceptable.  BNB might have closed below the crucial $237.0 barrier, at its most recent lows of $219.2 and $204.9.

BNB/USD Market

Key levels:

Supply levels: $254.2, $267.5, $276.5

Demand levels: $237.0, $219.2, $204.9

BNBUSD Long-term Trend: Bullish

There is an increasing trend visible in the daily BNBUSD chart. A few weeks ago, the price of the cryptocurrency fluctuated between $219.2 and $204.9. Three weeks passed during this range movement. As the bulls gathered traction, $219.2, which had previously been a resistance level, turned into a support level. Last week, buyers dominated the BNB market.  The sum went up, tested $254.2, and pulled back. Currently, buyers are gathering momentum as they attempt to break through the $254.2 mark.

The price of the cryptocurrency is currently rising and is just above the 9- and 21-period exponential moving averages. The $254.2 resistance level might be broken by buyers holding the $237.0 support level, endangering the $267.5 and $276.5 resistance levels. If neither the vendors nor the buyers find $237.0 acceptable.  BNB might have closed below the crucial $237.0 barrier, at its most recent lows of $219.2 and $204.9.

BNBUSD medium-term Trend: Bullish

The trend could improve over the next four hours. A bullish trend was started by the double bottom pattern, which was initially noticed on December 11 at the $219.2 support level. The price went up as a result. On December 12, the $254,2 resistance level was examined. A strong bearish candle formed, indicating a rejection and the price dropped. Right now, the market is not too volatile.

BNB is currently trading in proximity to the exponential moving averages with periods of 9 and 21. A sell is indicated by the relative strength index period 14 signal line’s downward decrease at level 54.

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