BNB (BNBUSD) Price Tests $381.5 Resistance Level
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BNB (BNBUSD) Price Tests $381.5 Resistance Level

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Azeez Mustapha

Updated:

Buyers’ pressure increases in BNB market

BNBUSD Price Analysis: 23 February

Buyers may jeopardize the $400.0 and $450.0 resistance levels if they can break through the $381.5 resistance level while maintaining the $366.7 support level. BNB will test the recent lows of $356.1 and $355.1 if it closes below the critical $366.7 barrier and $381.5 holds.

BNB/USD Market

Key levels:

Supply levels: $381.5, $400.0, $450.0

Demand levels: $366.7, $356.1, $355.1

BNBUSD Long-term Trend: Bullish

The daily BNBUSD chart shows an inclining trend. A few weeks ago, the cryptocurrency price fluctuated between $320.3 and $296.1. As the bulls gained momentum, the $320.3 mark—which had previously been a level of resistance—became a level of support. The BNB market was under buyers’ control for the previous two weeks, during which the $355.1 level—from $356.1 to $366.7—was tested. Currently, there is a strong push to break over the $381.5 level.

BNB (BNBUSD) Price Tests 1.5 Resistance Level

 

Right now, the price of the cryptocurrency is erratic and slightly above the best crypto signals indicator according to Hull Suite.  Buyers may jeopardize the $400.0 and $450.0 resistance levels if they are able to break through the $381.5 resistance level while maintaining the $366.7 support level. BNB will test the recent lows of $356.1 and $355.1 if it closes below the critical $366.7 barrier and $381.5 holds.

BNBUSD medium-term Trend: bullish

The coin will move northward for the next four hours. Once the BNB crossed the $255.1 barrier, a bullish trend started. This was seen on January 25th, not too far from the $320.3 resistance level. Price hikes were ultimately the result. On February 9, the $356.1 resistance level was breached. Right now, the price is trying to overcome the resistance level of $381.5.

BNB (BNBUSD) Price Tests 1.5 Resistance Level

BNB is currently trading over the Hull Suite signal. A buy is indicated when the QQE MOD indicator signal line moves above zero.

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