Sellers may dominate BNB market soon
BNBUSD Price Analysis: 29 December
The $332.8 resistance level can be broken by buyers holding the $314.6 support level, endangering the $348.6 and $361.3 resistance levels. If $332.8 holds, and BNB close below the crucial $314.6 level, the most recent lows of $300.7 and $286.7 will be tested.
BNB/USD Market
Key levels:
Supply levels: $332.8, $348.6, $361.3
Demand levels: $314.6, $300.7, $286.7
BNBUSD Long-term Trend: Bullish
There is a clear increasing trend on the daily BNBUSD chart. A few weeks ago, the price of the cryptocurrency fluctuated between $219.2 and $254.9. Three weeks passed during this range movement. As the bulls gathered traction, $254.9, which had previously been a resistance level, turned into a support level. Last two weeks, buyers dominated the BNB market. The sum rose, broke through $300.7 and tested $332.8. As buyers gathered momentum, the price broke through the $314.6 barrier and hit $332.8 level.
The price of the cryptocurrency is currently rising and is just above the nine and twenty-one-period exponential moving averages. The $332.8 resistance level can be broken by buyers holding the $314.6 support level, endangering the $348.6 and $361.3 resistance levels. If $332.8 holds, and BNB close below the crucial $314.6 level, the most recent lows of $300.7 and $286.7 will be tested.
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 $237.0 support level. Price increases were the result. On December 12, the $286.7 resistance level was examined. A strong bullish candle that developed, indicating a strong bullish momentum, caused the price to rise and tested $332.8. Right now, the market is retreating towards $276.5.
The 9 and 21-period exponential moving averages are in close trading proximity to BNB. A sell is indicated by the relative strength index period 14 signal line’s downward dip at level 65.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.