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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.
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 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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