Binance Coin (BNBUSD) May Continue a Bullish Movement

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BNBUSD Price Analysis – September 30

The price may continue its bullish movement if the daily candle close above the $300 level, the resistance levels of $330 and $361 may be the target. Inability to break up the $300 level by the bulls may leads to bearish trend towards $276, $256 and $209 levels.

BNB/USD Market

Key levels:

Supply levels: $300, $330, $361

Demand levels: $276, $256, $209

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook. The crypto was bearish last week as it followed the direction of the candle pattern formed at $330 level called Pin Bar. The support level of $256 was tested and the bulls reacted against the bearish movement. More bullish daily candles were produced and the resistance level of $276 turns to support level. The price is currently heading towards the $300 level.

The Binance Coin pulls back to break up the former resistance level of $276, it is trading above the $276 level. The price is trading above the two EMAs which indicate that bulls’ momentum is increasing. The fast moving EMA (9 periods) is crossing the slow moving EMA (21 periods) upside. The price may continue its bullish movement if the daily candle close above the $300 level, the resistance levels of $330 and $361 may be the target. Inability to break up the $300 level by the bulls may leads to bearish trend towards $276, $256 and $209 levels.

BNBUSD medium-term Trend: Bullish

Binance coin is on the bullish movement on the 4 hour chart. The buyers are trying to dominate the cryptocurrency market. Bulls are holding unto the Binance coin market as the resistance level of $276 was penetrated last week. The buyers interrupted the bearish movement at the low of $256. The price currently targeting $300 resistance level.

The Binance Coin is trading above the 9 periods EMA and 21 periods EMA which indicate that buyers momentum is increasing.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.