Binance (BNBUSD) Price Plunges to Technical Support

Binance (BNBUSD) Price Plunges to Technical Support

BNBUSD Price Analysis – July 23

The breakout of the price by the bulls at resistance level of $311 may push the price towards the resistance levels of $364 and $420. In the same way, the breakout at support level of $254 may decrease the price to $196 and $147 levels.

BNB/USD Market

Key levels:

Supply levels: $311, $364, $420

Demand levels: $254, $196, $147

BNBUSD Long-term Trend: Ranging

BNBUSD is on the ranging mode on the long-term outlook. The coin is awaiting a radical fundamental events to trigger momentum. It seems the buyers’ momentum increases on July 21 with the formation of daily bullish candles. The bullish pressure is towards the resistance level of $311. However, the buyers’ and sellers’ momentum remain low and the price movement remains within $311 and $254 levels.

BNBUSD Daily chart, July 23

The two EMAs are yet to be separated and the price is trading over and around the 9 periods EMA and 21 periods EMA which connote that price ranging is in progress. The breakout of the price by the bulls at resistance level of $311 may push the price towards the resistance levels of $364 and $420. In the same way, the breakout at support level of $254 may decrease the price to $196 and $147 levels. The relative strength index period 14 is above 40 levels exhibiting a bullish signal.

BNBUSD medium-term Trend: Bullish

Binance coin is bullish on the 4 hour chart. Binance Coin was declined to test the support level at $254. The just mentioned level holds and the price bounces towards the $311 resistance level. The crypto is gradually increasing after penetrated the dynamic resistance levels upside. The slow bullish movement may continue provided the bulls’ pressure increases.

BNBUSD 4 hours, July 23

The Binance Coin is trading above 9 periods EMA and 21 periods EMA which indicate that the coin is experiencing low bullish momentum.

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Binance (BNBUSD) Price: Will There Be a Bearish Breakout at $254 Level?

Binance (BNBUSD) Price: Will There Be a Bearish Breakout at $254 Level?

BNBUSD Price Analysis – July 16

When the bulls gain more pressure to push the daily candle above the $311 resistance level, the price may soar to $364, penetrate it, and test the $420 resistance level. Should there be a breakdown of the support level of $254, then $196 and $147 support level may be reached. The relative strength index period 14 is exhibiting a bearish signal at 45 levels.

BNB/USD Market

Key levels:

Supply levels: $311, $364, $420

Demand levels: $254, $196, $147

BNBUSD Long-term Trend: Ranging

On the long-term outlook, BNBUSD continue on the ranging mode. The buyers’ momentum remains low and the resistance level of $311 stands as a barrier to the price. Likewise, the sellers’ momentum is lower compare to the strength of the support at $254. This is what make the coin continue to consolidating within the resistance level of $311 and support level of $254. A radical fundamental events is required to make the coin rally in the daily chart.

BNBUSD d aily chart, July 16

The two EMAs are interlocked to each other and the price is trading over and around the 9 periods EMA and 21 periods EMA which connote that price ranging is in progress. When the bulls gain more pressure to push the daily candle above the $311 resistance level, the price may soar to $364, penetrate it, and test the $420 resistance level. Should there be a breakdown of the support level of $254, then $196 and $147 support level may be reached. The relative strength index period 14 is exhibiting a bearish signal at 45 levels.

BNBUSD medium-term Trend: Ranging

Binance coin is ranging on the 4 hour chart. The crypto is range-bound within the support level of $254 and the resistance level of $311. The Binance coin market is experiencing a low volatility and this scenario brought about no significant movement. Failure to breakout to the north or to the south may leads to continuation of ranging market.

BNBUSD 4 hour chart, July 16

The 9 periods EMA is interlocked to the 21 periods EMA and the coin is hovering over the two EMAs to indicate that the coin is experiencing low momentum and low volatility.

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Binance (BNBUSD) Price: Ranging Movement Continues Within $311 and $254 Price Level 

Binance (BNBUSD) Price: Ranging Movement Continues Within $311 and $254 Price Level 

BNBUSD Price Analysis – July 09

In case the bulls were able to push the daily candle above the $311 resistance level, the price may increase to $364, penetrate it, and expose the price to the $420 resistance level. Should there be a breakdown of the support level of $254, then $196 and $147 support level may be tested.

BNB/USD Market

Key levels:

Supply levels: $311, $364, $420

Demand levels: $254, $196, $147

 

BNBUSD Long-term Trend: Ranging

On the long-term outlook, BNBUSD continue on the ranging mode. The buyers are yet to gain more pressure to break up the resistance level of $311. In the same way, the sellers’ pressure is lower compare to the strength of the support at $254. This is what make the coin continue to consolidating within the resistance level of $311 and support level of $254. Nevertheless, breakout is imminent and that may require a radical events.

BNBUSD Daily chart, July 09

The two EMAs are coming closer together, parallel to each other and the price is trading over and around the 9 periods EMA and 21 periods EMA which connote that price ranging is in progress. In case the bulls were able to push the daily candle above the $311 resistance level, the price may increase to $364, penetrate it, and expose the price to the $420 resistance level. Should there be a breakdown of the support level of $254, then $196 and $147 support level may be tested. The relative strength index period 14 is parallel to the 50 levels as a symbol of consolidation.

BNBUSD medium-term Trend: Bearish

Binance coin is bearish on the 4 hour chart. Yesterday, the Bulls were able to break up the resistance level of $311 and moved towards the resistance level of $364, along the way, the bears interrupted the price increase with the formation of bearish engulfing candle and followed with more bearish candles. The price decline and penetrate the dynamic support levels.

BNBUSD 4 hours chart, July 09

The 9 periods EMA is below the 21 periods EMA and the coin is trading below the two EMAs to indicate that the coin is under the bearish control.

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Binance (BNBUSD) Price Is Ranging Within $311 and $254 Price Level

Binance (BNBUSD) Price Is Ranging Within $311 and $254 Price Level

BNBUSD Price Analysis – July 02

When the daily candle closes above the $311 resistance level, the price may increase to $364, penetrate it, and expose the price to the $420 resistance level. If it breaks down the support level of $254, then $196 and $147 support level may be tested.

BNB/USD Market

Key levels:

Supply levels: $311, $364, $420

Demand levels: $254, $196, $147

BNBUSD Long-term Trend: Ranging

BNBUSD is on the ranging mode in the long-term outlook. The coin has been bearish for more than three weeks in the daily chart. The price sparked and rally towards the resistance level of $311 on June 23 but suddenly dropped to the support level of $254. The resistance level of $311 has been preventing an increase in price, likewise, the support level of $254 is been defended by the bulls and this led to the ranging of the price within $311 and $254 price level.

BNBUSD Daily chart, July 02

 

The two EMAs are coming close together, parallel to each other and the price is trading over the 9 periods EMA and 21 periods EMA which connote that price ranging is in progress. When the daily candle closes above the $311 resistance level, the price may increase to $364, penetrate it, and expose the price to the $420 resistance level. If it breaks down the support level of $254, then $196 and $147 support level may be tested. The relative strength index period 14 is parallel to the 40 levels as a symbol of consolidation.

BNBUSD medium-term Trend: Ranging

The Bulls are unable to break up the resistance level of $311 when the price was pushed to test the level last week. In the same way, the bears could not break down the support level of $254 when it was tested. The price commences ranging movement within the $311 and $254 price level.

BNBUSD 4 hour chart, July 02

The 9 periods EMA is interlocked to the 21 periods EMA and the coin is trading around and over the two EMAs to indicate that consolidation is in progress. The Relative Strength Index period 14 is not displaying a specific direction.

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Binance Coin (BNBUSD) Price: Bearish Breakout at $254 Level May Decline Price to $196

Binance Coin (BNBUSD) Price: Bearish Breakout at $254 Level May Decline Price to $196

BNBUSD Price Analysis – June 24

In case the bears breaks down the support level of $254, the price may decline to $196 level, continue its downtrend movement towards the support level of $142. On the other hand, more pressure from the buyers may push up the Binance Coin to break the resistance level of $311 which may increase further to $364 and $420 levels.

BNBUSD Market

Key levels:

Resistance levels: $311, $364, $420

Support levels: $254, $196, $142

BNBUSD Long-term trend: Bearish

Binance coin is bearish on the daily chart. The coin was on the ranging movement last week. The ranging movement was within the $420 and $311 price level. There was an increase in the bears’ pressure with the formation of strong daily bearish candle that penetrates the former support level of $311 downside. The price decreases to test the support level of $196. The price is currently pulling back to retest the dynamic resistance level.

BNBUSD Daily chart, June 25

The Binance Coin is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is flat at 40 levels with the signal lines bending down indicating sell signal. In case the bears breaks down the support level of $254, the price may decline to $196 level, continue its downtrend movement towards the support level of $142. On the other hand, more pressure from the buyers may push up the Binance Coin to break the resistance level of $311 which may increase further to $364 and $420 levels.

BNBUSD medium-term Trend: Bearish

BNBUSD is bearish in the 4-hour chart.  The sellers finally exerted more pressure on the Binance coin last week. The price bearishly breakout from the consolidation zone. The price decline towards the $254 support level. It pulls back last week to retest the resistance level of $311. It is currently returning to bearish trend.

BNBUSD 4 hour chart, June 25

Binance coin is trading below 9 periods EMA and 21 periods EMA as a sign of bearish market. The relative strength index period 14 is below 50 levels and the signal line pointing down to indicate sell signal.

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Bitcoin SV Price: Bears are Dominating Bulls

Bitcoin SV Price: Bears are Dominating Bulls

Bitcoin SV Price Analysis – June 21

Further increase in the bears’ pressure will decrease the price to break down the support level of $134 which may expose the price to $108 and $103 price level. In case the support level of $134 holds, the price may increase towards the resistance level at $152, $185 and $206.

Key Levels:

Resistance levels: $152, $185, $206

Support levels: $134, $108, $103

BSV/USD Long-term Trend: Bearish

On the daily chart, Bitcoin SV is bearish. Last week, the coin was on the ranging movement in the daily chart. The former support level at $152 holds and the bearish momentum is not enough to push the price below it. The former resistance level at $185 remains strong to the bulls. On June 20, the bears increase their momentum and push down the price below the support level of $149 and it is approaching the $134 support level.

Bitcoin SV Daily chart, June 21

The two EMAs are bending down to follow the direction of the price. The crypto continue its trading below the 9 periods EMA and the 21 periods EMA which indicate bearish momentum. Further increase in the bears’ pressure will decrease the price to break down the support level of $134 which may expose the price to $108 and $103 price level. In case the support level of $134 holds, the price may increase towards the resistance level at $152, $185 and $206.

BSV/USD Medium-term Trend: Bearish

Bitcoin SV is on the bearish movement on the medium-term outlook. The bears eventually dominates the Bitcoin SV market. The momentum of the bears increases and the price decline to break down the support level at $152. The price is decreasing towards the support level of $134.

Bitcoin SV 4 hour chart, June 21

The price is trading below the 9 periods EMA and 21 periods EMA which indicate that bears are in control of the market. The relative strength index period 14 is below 40 levels displaying a bearish signal.

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Binance Coin (BNBUSD) Price: Bullish Breakout at $420 Level May Drive Price to $599

Binance Coin (BNBUSD) Price: Bullish Breakout at $420 Level May Drive Price to $599

BNBUSD Price Analysis – June 18

Should the bulls defend the support level of $364, the price may breakout at $420 level continue its uptrend movement towards the resistance level of $503 and $599. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $364 which may decrease further to $311 and $254 levels.

BNBUSD Market

Key levels:

Resistance levels: $420, $503, $599

Support levels: $364, $311, $254

BNBUSD Long-term trend: Ranging

Binance coin is on ranging movement on the daily chart. The bulls triggered the bullish movement when the bearish movement was rejected at the support level of $311. The price increase to the resistance level of $420 and it was equally opposed by the bears. The coin commences a ranging movement within the resistance level of $420 and support level of $364.

BNBUSD Daily chart, June 18

The Binance Coin is trading between and below the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is flat at 40 levels with the signal lines displaying no specific direction. Should the bulls defend the support level of $364, the price may breakout at $420 level, continue its uptrend movement towards the resistance level of $503 and $599. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $364 which may decrease further to $311 and $254 levels.

BNBUSD medium-term Trend: Ranging

BNBUSD is ranging in the 4-hour chart.  It seems the momentum of bears and bulls are at equilibrium after the bouncing of Binance Coin at the support level of $254. It hits the $364 level and pulled back. The bulls loses their momentum and the price could not increase further. Also, the bears lose momentum and this brought low volatility and low momentum in to the Binance coin market.

BNBUSD 4 hour chart, June 18

Binance coin is hovering over 9 periods EMA and 21 periods EMA as a sign of ranging market. The relative strength index period 14 is above 40 levels and the signal line pointing down to indicate sell signal.

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Binance Coin (BNBUSD) Price; Ranging Movement as Bears and Bulls lose Momentum

Binance Coin (BNBUSD) Price; Ranging Movement as Bears and Bulls lose Momentum

BNBUSD Price Analysis – June 11

In case the support level of $311 holds, the price will continue its uptrend movement towards the resistance level of $364, $420 and $503. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $311 which may decrease further to $254 and $196 levels.

BNBUSD Market

Key levels:

Resistance levels: $364, $420, $503

Support levels: $311, $254, $196

BNBUSD Long-term trend: Bearish

Binance coin is bearish on the daily chart. The coin was bullish last week as it was heading towards the resistance level at $503. The sellers interrupted the bulls at the $420 price level with the formation of bearish engulfing candle.  The price decreases towards the support level at $311 after it penetrates $364 level downside. The price is currently decreasing below the $364 level.

The Binance Coin is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is above 40 levels with the signal lines displaying no specific direction. In case the support level of $311 holds, the price will continue its uptrend movement towards the resistance level of $364, $420 and $503. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $311 which may decrease further to $254 and $196 levels.

BNBUSD medium-term Trend: Ranging

BNBUSD is ranging in the 4-hour chart. After the bouncing of Binance Coin at the support level of $254, it hits the $364 level and pulled back. The bulls loses their momentum and the price could not increase further. Also, the bears lose momentum and this brought low volatility and low momentum in to the Binance coin market.

BNBUSD 4 hour chart, June 11

Binance coin is hovering over 9 periods EMA and 21 periods EMA as a sign of ranging market. The relative strength index period 14 is above 40 levels and the signal line pointing down to indicate sell signal.

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Binance Coin (BNBUSD) Price May Retest $364 Level Before Bullish Trend Continues

Binance Coin (BNBUSD) Price May Retest $364 Level Before Bullish Trend Continues

BNBUSD Price Analysis – June 04

In case the support level of $364 holds, the price will continue its uptrend movement towards the resistance level of $503 and $599. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $364 which may decrease further to $311 and $254 levels.

BNBUSD Market

Key levels:

Resistance levels: $420, $503, $599

Support levels: $364, $311, $254

BNBUSD Long-term trend: Bullish

Binance coin is bullish on the daily chart. The bearish pressure under which Binance Coin was operating for more than two weeks pushed the price to found support at $254 on May 23. A bullish engulfing candle formed at the same level the following day. This is what made the price reversed. The price increases to $420. Today, the daily bearish candle open the market and it seems it will pull back before the continuation of bullish trend.

BNBUSD Daily chart, June 04

The Binance Coin is pulling back at the moment. It is trading between the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is above 40 levels with the signal lines pointing down to indicate sell signal. In case the support level of $364 holds, the price will continue its uptrend movement towards the resistance level of $503 and $599. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $364 which may decrease further to $311 and $254 levels.

BNBUSD medium-term Trend: Bullish

BNBUSD is bullish in the 4-hour chart. Binance Coin bounced at the support level of $254, it hits the $364 level and pulled back before it increases to $420. The price action in the 4 hour chart has formed a short “W” chart pattern. It means the price may increase to $599 resistance level. Sellers are dominating the market today and the price is pulling back to retest $364 level.

BNBUSD 4 hour chart, June 04

Binance coin is trading below 9 periods EMA and 21 periods EMA as a bearish sign which may be a pullback.Coin

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Binance Coin (BNBUSD) Price; Sellers Reject Price Increase at $364 Level  

Binance Coin (BNBUSD) Price; Sellers Reject Price Increase at $364 Level  

BNBUSD Price Analysis – May 28

More pressure from the sellers will push down the Binance Coin to break the support level of $311 which may decrease further to $254 and $196 levels. Inability to break down the support level of $311 by the bears, BNBUSD will break up the $364 and bullish trend may continue to the resistance levels at $420, and $503.

BNBUSD Market

Key levels:

Resistance levels: $364, $420, $503

Support levels: $311, $254, $196

BNBUSD Long-term trend: Bearish

Binance coin is bearish on the daily chart. The bears remain to hold unto the Binace coin market. The bearish momentum pushed the price $254 level before pulling back. The support level of $196 is tested and the price bounces, pulled back to retest $364 level.  Further price increase is prevented by the dynamic resistance level. It is currently descending towards the $311 level.

BNBUSD daily chart, May 28

The bears’ momentum is increasing in the Binance coin market. It is trading below the 9 periods EMA and 21 periods EMA after crossing the fast moving average and the slow moving average downside. The Relative Strength Index period 14 is at 40 levels with the signal lines pointing down to indicate sell signal. More pressure from the sellers will push down the Binance Coin to break the support level of $311 which may decrease further to $254 and $196 levels. Inability to break down the support level of $311 by the bears, BNBUSD will break up the $364 and bullish trend may continue to the resistance levels at $420, and $503.

BNBUSD medium-term Trend: Bearish

BNBUSD is bearish in the 4-hour chart. The sellers are rejecting the opposition force from the buyers. The price tested the support level of $196 on May 23, the bears momentum failed and a pin bar candle formed at the same level indicating a pressure from the bulls. The price increased to $364 level after penetrating $323 price level. The bears defends the $364 level and the price is decreasing to retest the $311 price level.

BNBUSD 4 hours, May 28

Binance coin is trading below 9 periods EMA and 21 periods EMA at distance which indicate an increase in the bears’ momentum.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.