BNB (BNBUSD) Price: Will There Be a Breakup at $254.2?

 Bulls struggling to break up $254.2 level

BNBUSD Price Analysis: 10 November

Buyers holding the $237.0 support level might shatter the $254.2 resistance level, putting the $267.5 and $276.5 resistance levels in jeopardy. Should purchasers protest to vendors at $254.2.  After closing below the critical $237.0 barrier, BNB may have dropped to 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

The BNBUSD daily chart is trending upward. The cryptocurrency’s price varied last two weeks between $219.2 and $204.9. This range movement lasted for three weeks. The bulls gained momentum and the $219.2 resistance level moved to a support level. Buyers dominate the BNB market at the moment.  The price is increasing and making an effort to cross the $254.2 barrier.

The cryptocurrency is in a favorable trend and is now trading above the exponential moving averages with periods of 9 and 21. Buyers holding the $237.0 support level might shatter the $254.2 resistance level, putting the $267.5 and $276.5 resistance levels in jeopardy. Should purchasers protest to vendors at $254.2.  After closing below the critical $237.0 barrier, BNB may have dropped to its most recent lows of $219.2 and $204.9.

BNBUSD medium-term Trend: Bullish

Over the following four hours, the trend might get better. The triple bottom pattern, first identified at the $204.9 support level, is unsettled by the struggle between buyers and sellers. There were early indications that purchasers were attempting to corner the market. Prices begin to rise above $219.2 and $204.9 as a result of purchasers’ enthusiasm. It looks like things will stay good for the next week.

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 57.

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