Binance Coin (BNBUSD) Price Is Targeting $599 Resistance Level

Updated:

Annual Forecast for Binance Coin (2022)

Inability to break down the support level of $430 by the bears, BNBUSD may break up the $503 and bullish trend may commence to the resistance levels at $599, and $678. Further increase in the sellers’ momentum will push down the Binance Coin to break the support level of $430 and if the daily candle stick close below it, then, the price may decrease further to test the $364 and $254 support levels.

BNBUSD Market

Key levels:

Resistance levels: $503, $599, $678

Support levels: $430, $364, $254

BNBUSD Long-term trend: Bearish

Binance coin is bearish on the weekly chart. The crypto was at low level below $430 at the beginning of last year. The bulls gained momentum in the month of February with the formation of bullish candles. The bullish pressure pushed the price to $678 resistance level in the month of May. The mentioned level resisted further price increase. A strong weekly bearish candles emerged and the price dropped to $254 level. The previous high was retested in November when bulls exerted more pressure. An evening star candle pattern was produced and the price declines towards the previous low.

BNBUSD Weekly chart, January 14

Binance Coin has penetrated the fast moving average and the slow moving average downside. The coin is trading below the 9 periods EMA and 21 periods EMA at distance which indicate that the bears’ momentum is gradually increasing in the Binance coin market. The Relative Strength Index period 14 is at 50 levels with the signal lines pointing up to indicate buy signal. Inability to break down the support level of $430 by the bears, BNBUSD may break up the $503 and bullish trend may commence to the resistance levels at $599, and $678. Further increase in the sellers’ momentum will push down the Binance Coin to break the support level of $430 and if the daily candle stick close below it, then, the price may decrease further to test the $364 and $254 support levels.

BNBUSD medium-term Trend: Bearish

BNBUSD is bearish in the 4-hour chart. The price tested the resistance level of $678 twice after the price increase from the support level of $364. The scenario took place between February and May last year. Bulls find it difficult to break up the resistance level of $678. Bearish momentum increased and the price decreases to $430 level.

BNBUSD Daily chart, January 14

Binance coin is trading below 9 periods EMA and 21 periods EMA which indicate an increase in the bears’ momentum. Previous low of $254 may be tested.

You can purchase crypto coins here: Buy coins

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance CEO Worth $96 Billion, Now Wealthiest Crypto Billionaire: Bloomberg

Updated:

Bloomberg has named Binance CEO Changpeng Zhao the wealthiest crypto billionaire, placing his net worth at a staggering $96 billion. Zhao, CZ, now worths more than Indian business tycoon Mukesh Ambani, who, according to the Bloomberg Billionaire Index, has a net worth of $92.9 billion.

The recent valuation now puts CZ close to juggernauts like Warren Buffet and Mark Zuckerberg. That said, many have argued that CZ’s net worth could be more than Bloomberg proposes considering that little is known about his crypto holdings.

The Binance CEO, who worked as a McDonald’s attendant as a teenager, has avoided making the correct size of his fortune known and has said he would give away his entire wealth.

Meanwhile, The Wall Street Journal recently claimed that Binance could get a valuation of up to $300 billion should it go public. The behemoth exchange recorded annual revenue of $20 billion in 2021, eclipsing expectations of its US-based rival Coinbase.

However, Binance has questioned the accuracy of Bloomberg’s ratings, noting that crypto is too volatile to make concrete estimates. Also, the exchange battled a slew of regulatory inquests last year.

Moving on, FTX CEO Sam Bankman-Fried and Coinbase CEO Brian Armstrong come in second and third position based on wealthiest crypto billionaires, with $15.4 billion and $8.93 billion, respectively.

Key Binance Coin Levels to Watch —January 10

Binance Coin (BNB) resumed its downward spiral on Monday, as it became apparent that bears are now in control of the market bias. BNB now trades along my multi-month-long descending trendline towards the $410 – $400 support area.

BNBUSD – Daily Chart on BinanceUS. Source: TradingView

That said, I expect to see a bearish continuation over the coming days along the trendline as we continue to witness a breakdown of the bull cycle.

Meanwhile, my resistance levels are 436, $450, and $460, and my support levels are $410, $380, and $350.

Total Market Capitalization: $1.91 trillion

Binance Coin Market Capitalization: $70.8 billion

Binance Coin Dominance: 3.7 %

Market Rank: #4

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price Approaches Potential Bullish Reversal Level

Updated:

BNBUSD Price Analysis – January 07

Further increase in the sellers’ momentum will push down the Binance Coin to break the support level of $430 and if the daily candlestick close below it, then, the price may decrease further to test the $364 support levels.

BNBUSD Market

Key levels:

Resistance levels: $503, $540, $599

Support levels: $430, $364, $311

BNBUSD Long-term trend: Bearish

Binance coin is bearish on the daily chart. The crypto was trading between the resistance level of $540 and the support level of $503 last week. The coin has tested the resistance level of $540 twice which indicate a signal for the bears to dominate the Binance coin market. On 05 January, the bears prevailed over the bulls with the formation of strong bearish candle that breaks down the support level of $503, the price is decreasing towards the $430 price level.

BNBUSD Daily chart, January 07

Binance Coin has penetrated the fast moving average and the slow moving average downside. The coin is trading below the 9 periods EMA and 21 periods EMA at distance which indicate that the bears’ momentum is gradually increasing in the Binance coin market. The Relative Strength Index period 14 is at 20 levels with the signal lines pointing down to indicate sell signal. Further increase in the sellers’ momentum will push down the Binance Coin to break the support level of $430 and if the daily candlestick close below it, then, the price may decrease further to test the $364 support levels. Inability to break down the support level of $430 by the bears, BNBUSD will break up the $503 and bullish trend may commence to the resistance levels at $540, and $599.

BNBUSD medium-term Trend: Bearish

BNBUSD is bearish in the 4-hour chart. The price was ranging within the $540 and $503 levels last week.  The price broke up the resistance level of $540 on December 27. The sellers rejected the price increase and break down the support level of $503 on January 05. The price is heading towards the support level of $430.

BNBUSD 4-hour chart, January 07

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

You can purchase crypto coins here: Buy coins

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price: Bullish Breakout at $599 Level May Drive Price to  $678

Updated:

BNBUSD Price Analysis – December 10

Should the bulls defend the support level of $540, the price may breakout at $599 level, continue its uptrend movement towards the resistance level of $678 and $758. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $540 which may decrease further to $503 and $430 levels.

BNBUSD Market

Key levels:

Resistance levels: $599, $678, $758

Support levels: $540, $503, $430

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 $540. The price increase to the resistance level of $678 and it was equally opposed by the bears. The coin commences a ranging movement within the resistance level of $599 and support level of $540.

BNBUSD daily chart, December 10

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 $540, the price may breakout at $599 level, continue its uptrend movement towards the resistance level of $678 and $758. On the other hand, more pressure from the sellers may push down the Binance Coin to break the support level of $540 which may decrease further to $503 and $430 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 $540. It hits the $599 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, December 10

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 at 50 levels and the signal line display no specific direction.

You can purchase crypto coins here.  Buy Tokens

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Repositions to Curry Favor from UK Regulatory Authorities After Ban

Updated:

Binance CEO Changpeng Zhao (CZ) has shown that the world’s largest cryptocurrency exchange is actively trying to rebuild its UK division, following a clampdown on its operations by the Financial Conduct Authority (FCA) in June 2021.

Like Binance.US, Binance’s London division Binance Markets Limited aimed at becoming a separate entity to serve the UK market. Unfortunately, the FCA stood in the way of this ambition, following the clampdown. Nonetheless, UK customers have found a way to access services through the Binance.com domain, despite the prevailing ban on the exchange due to the regulatory crackdown.

CZ recently noted that the company’s relations with the FCA had improved significantly since then and that they were currently in dialogue. The CEO revealed that the company had hired several compliance officers (including former FCA employees) to help it curry favor in the eyes of the FCA and secure licensing.

One of the fundamental issues the UK watchdog had with the company was the level of opacity around its domicile and corporate structure. Now, Binance has begun erecting offices around the world—including one in the UK—and is setting up legal entities. The crypto exchange believes that it should be up and running in the UK within the next six months to a year, focusing on anti-money laundering and anti-terrorism financing compliance. The company also hopes to offer futures and derivatives trading in the UK.

Key Binance Coin Levels to Watch — December 6

After maintaining a steady ascent along the ten-week-long ascending trendline, Binance Coin (BNB) suffered its first sustained break below this line on December 4 amid a marketwide crash. That said, BNB appears to have regained stability at the $540 support as the bearish momentum resumed on Monday.

BNBUSD – 4-Hour Chart on BinanceUS. Source: TradingView

Along with most of the crypto market, the third-largest cryptocurrency could suffer a bearish continuation to its flash crash low at $495 over the coming days. However, this bias will get invalidated once the price resurfaces above the trendline again, a 10% bullish move.

Meanwhile, my resistance levels are $560, $580, and $600, and my support levels are $540, $520, and $500.

Total Market Capitalization: $2.22 trillion

Binance Coin Market Capitalization: $92.4 billion

Binance Coin Dominance: 4.15%

Market Rank: #3

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price: Can Bullish Momentum Break Up $678 Level?  

Updated:

BNBUSD Price Analysis – December 03

In case the resistance level of $678 is penetrated upside, the price may soar to $758 which may extend to $850. Should the resistance level of $678 is defended by the bears, the price may reverse and continue a bearish movement towards the support levels of $599, $540 and $503.

BNB/USD Market

Key levels:

Supply levels: $678, $758, $850

Demand levels: $599, $540, $503

 

BNBUSD Long-term Trend: Bullish

On the long-term outlook, BNBUSD is bullish. The coin fell to the support level of $540 after the formation of double top chart pattern. The bearish momentum is interrupted by the bull with formation of a bullish engulfing candle at the support level of $540. Binance Coin is increasing at the moment and the $599 level has been penetrated upside. Last week price momentum is low and the price remains within $678 and $599 levels.

BNBUSD Daily chart, December 03

The Binance Coin is trading above the two EMAs at close distance which indicate that bullish momentum is low in the Binance market. The fast moving EMA (9 periods) has crossed the slow moving EMA (21 periods) upside. In case the resistance level of $678 is penetrated upside, the price may soar to $758 which may extend to $850. Should the resistance level of $678 is defended by the bears, the price may reverse and continue a bearish movement towards the support levels of $599, $540 and $503.

BNBUSD medium-term Trend: Bullish

Binance coin is on the bullish movement on the 4 hour chart. The Binance market experienced a bearish momentum when there was a double top chart pattern at the resistance level of $678. The downtrend movement could not continue as the bears’ pressure failed at $540 price level. Bullish engulfing candle formed and the price increases towards the resistance level of $678.

BNBUSD 4 hour chart, December 03

The Binance Coin is trading around the 9 periods EMA and 21 periods EMA which indicate that buyers’ momentum is low in the  Binance market.

You can purchase crypto coins here.  Buy Tokens

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price: Bulls Interrupt Bears at $540 Level

Updated:

BNBUSD Price Analysis – November 26

Should the resistance level of $678 is broken upside, the price may increase to $758 which may extend to $850. In case the resistance level of $678 holds, the price may reverse and resume a bearish movement towards the support levels of $599, $540 and $503.

BNB/USD Market

Key levels:

Supply levels: $678, $758, $850

Demand levels: $599, $540, $503

BNBUSD Long-term Trend: Bearish

On the long-term outlook, BNBUSD is bullish. The formation of double top chart pattern led to the falling of the Binance price to $540 level. A bullish engulfing candle emerged to interrupt the bears at the support level of $540. Binance Coin is increasing at the moment and the $599 level has been penetrated upside. Further increase in the Binance price has placed the price above the resistance level of $599 and it is targeting the resistance level of $678.

BNBUSD Daily chart, November 26

The Binance Coin is trading above the two EMAs at distance which indicate that bullish momentum is increasing in the Binance market. The fast moving EMA (9 periods) is trying to cross the slow moving EMA (21 periods) upside. Should the resistance level of $678 is broken upside, the price may increase to $758 which may extend to $850. In case the resistance level of $678 holds, the price may reverse and resume a bearish movement towards the support levels of $599, $540 and $503.

BNBUSD medium-term Trend: Bullish

Binance coin is on the bullish movement on the 4 hour chart. Bears were in control of the Binance market last week after the formation of double top chart pattern. It reduced towards the support level of $599 and extended to $540 support level. There was an interruption from the bulls with the formation of bullish engulfing candle. The price is moving towards the previous high at $678 at the moment.

BNBUSD 4-hour chart, November 26

The Binance Coin is trading above the 9 periods EMA and 21 periods EMA which indicate that buyers are ruling the  Binance market.

You can purchase crypto coins here.  Buy Tokens

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price: Double Top Chart Pattern, Bears Are Dominating

Updated:

BNBUSD Price Analysis – November 19

In case the support level of $503 is penetrated, the price may reduce to $430 which may extend to $364. Should the support level of $503 holds, the price may reverse and face the resistance levels of $540, $599 and $678.

BNB/USD Market

Key levels:

Supply levels: $540, $599, $678

Demand levels: $503, $430, $364

BNBUSD Long-term Trend: Bearish

On the long-term outlook, BNBUSD is bearish. The Binance Coin has formed a double top chart pattern on the daily time frame at the resistance level of $678. The first touch was on November 08, it pulled back to test the support level of $599. The second touch was on November 11, the resistance level of $678 holds and the price decline. The price has penetrated the support levels of $599 and $540.

BNBUSD Daily chart, November 19

The Binance Coin is trading below the two EMAs at distance which indicate that bearish momentum is increasing in the Binance market. The fast moving EMA (9 periods) is trying to cross the slow moving EMA (21 periods) downside. In case the support level of $503 is penetrated, the price may reduce to $430 which may extend to $364. Should the support level of $503 holds, the price may reverse and face the resistance levels of $540, $599 and $678.

BNBUSD medium-term Trend: Bearish

Binance coin is on the bearish movement on the 4 hour chart. Bears opposed the bullish momentum at $678 resistance level. A strong bearish candle formed which is an indication of the bears’ interruptions. The Crypto tested the resistance level of $678 two times at different date. The bulls could not push up the price further. The coin decreases to break down the support levels of $599 and $540.

BNBUSD 4-hour chart, November 19

The Binance Coin is trading below the 9 periods EMA and 21 periods EMA which indicate that sellers are dominating the market.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price Bounces Off $678 Resistance Level, Bearish Movement May Commence

Updated:

BNBUSD Price Analysis – November 12

In case the resistance level of $678 holds the price may reverse and face the support levels of $599, $503and $430. Further increase in the bulls’ pressure may break up $678 and price may increase to $758 and $828 levels.

BNB/USD Market

Key levels:

Supply levels: $678, $758, $828

Demand levels: $599, $503, $430

BNBUSD Long-term Trend: Bullish

On the long-term outlook, BNBUSD is bullish. On September 28, Binance Coin found support at $311 level. The price turned upside to break up $430 and $503 levels with the aid of strong bullish momentum. Bullish momentum increases and extend to break up the former resistance level of $599 and the price increases to test $678 level. It is pulling back since last week and it is currently testing the support level of $599.

BNBUSD Daily chart, November 12

The fast moving EMA (9 periods) remains above the slow moving EMA (21 periods). The Binance Coin is trading above the two EMAs at close contact which indicate that bulls’ momentum is becoming weak in the Binance market. In case the resistance level of $678 holds the price may reverse and face the support levels of $599, $503and $430. Further increase in the bulls’ pressure may break up $678 and price may increase to $758 and $828 levels.

BNBUSD medium-term Trend: Bearish

Binance coin is on the bearish movement on the 4 hour chart. The Crypto tested the resistance level of $675 on November 07, the bulls could not push up the price further. A strong bearish candle formed which is an indication of the bears’ interruptions. The coin decreases towards the support level of $572. It is trying to break down $599 level at the moment.

BNBUSD 4 hour chart, November 12

The Binance Coin is trading below the 9 periods EMA and 21 periods EMA which indicate that sellers are dominating the market.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.

Binance Coin (BNBUSD) Price May Penetrate $599 Resistance Level

Updated:

BNBUSD Price Analysis – November 05

An increase in the buyers’ momentum will push the Binance Coin to break up the resistance level of $599 and if the daily candlestick close above it, then, the price may increase further to test the $678 and $759 resistance levels. Inability to break up the resistance level of $599 by the bulls, BNBUSD may reverse to bearish trend to the support levels at $572, $540, and $503.

BNBUSD Market

Key levels:

Resistance levels: $599, $678, $758

Support levels: $572, $540, $503

BNBUSD Long-term trend: Bullish

Binance coin is bearish on the daily chart. Two weeks ago, the coin retraced to test the support level of $473. The bulls gained more pressure with the formation of bullish engulfing candle; the price increases to the resistance level of $540 after broken up the former resistance level of $503. The resistance level of $572 was penetrated by the bulls with the formation of a bullish engulfing candle.  The price is currently heading towards $599 level.

BNBUSD Daily chart, November 05

Binance Coin has penetrate the fast moving average and the slow moving average upside. However, it is trading above the 9 periods EMA and 21 periods EMA at distance which indicate that the bulls’ momentum is increasing in the Binance coin market. The Relative Strength Index period 14 is at 70 levels with the signal lines pointing up to indicate a buy signal. An increase in the buyers’ momentum will push the Binance Coin to break up the resistance level of $599 and if the daily candlestick close above it, then, the price may increase further to test the $678 and $759 resistance levels. Inability to break up the resistance level of $599 by the bulls, BNBUSD may reverse to bearish trend to the support levels at $572, $540, and $503.

BNBUSD medium-term Trend: Bullish

Binance coin is on the bullish movement on the 4 hour chart. When the bears could not push down the price further below the support level of $430. A strong bullish candle formed which is an indication of the bulls’ interruptions. The coin increases towards the resistance level of $540. It broke it up and extends to $572. It is currently increasing to $599.

BNBUSD 4 hour chart, November 05

The Binance Coin is trading above the 9 periods EMA and 21 periods EMA which indicate that buyers are dominating the market.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

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.