Binance Coin (BNBUSD) Price: Bulls Dominate, Targeting $430 Resistance Level

Updated:

BNBUSD Price Analysis – October 01

The price may reach the resistance level of $430, in case the mentioned level is broken up, the resistance levels of $503 and $599 will be the target.  Should the bears defend the resistance level of $430, the price may fall towards the support levels of $364, $311 and $254.

BNB/USD Market

Key levels:

Supply levels: $430, $503, $599

Demand levels: $364, $311, $254

 

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook. The formation of the double top chart pattern is completed at the support level of $311 on September 28. The bulls gained more momentum with the formation of strong daily bullish candle. The former resistance level of $364 is already broken up and the price is increasing towards the resistance level of $430.

BNBUSD Daily chart, October 01

The Binance Coin is trading above the two EMAs as an indication of bullish trend. The fast moving EMA (9 periods) is trying to cross the slow moving EMA (21 periods). The price may reach the resistance level of $430, in case the mentioned level is broken up, the resistance levels of $503 and $599 will be the target.  Should the bears defend the resistance level of $430, the price may fall towards the support levels of $364, $311 and $254.  The relative strength index period 14 is at 50 level pointing upside indicating buy signal.

BNBUSD medium-term Trend: Bullish

Binance coin is on the bullish movement on the 4 hour chart. The sellers had successfully pushed the price to the low of $311 support level on September 26. There was a negative reaction from the buyers with the formation of bullish engulfing candle. The bullish movement commenced and the price increases to break the resistance level of $364. The bullish momentum is extending towards to $430 level.

BNBUSD 4 hour chart, October 01

 

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

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Investing in the Cryptocurrency Market: Two Reliable Options

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As the cryptocurrency industry continues to add new coins daily, it has become increasingly tough to choose a good investment crypto option. While all crypto assets are good speculative vehicles, not all are suitable for long-term investment.

In this article, we’ll take a brief foray into two of the most reliable crypto-assets in the industry; Binance Coin (BNB) and Uniswap (UNI).

Binance Coin

Binance, the host platform of BNB, is the largest crypto marketplace in the world today. That said, investing in Binance Coin is similar to investing in the stock of Binance. Sitting at the number three spot on the top cryptocurrency rankings, BNB has recorded a meteoric rise over the past few months, thanks to the groundbreaking performance of the exchange.

Also, Binance Coin sometimes functions like an “in-game currency” that rewards users with better price deals on their transactions when they pay with BNB. This bestows the token with a kind of real-money value and also serves as a “lock-in” for traders using the platform.

Despite having suffered a barrage of a clampdown from regulatory authorities across the globe, Binance continues to adjust to the climate and forge ahead. The company has even shown that it is prepared to disrupt its operations to maintain its competitive and leading advantage, making it a reliable investment vehicle.

An example of such disruption occurred after the advent of decentralized exchanges (DEX), which threatens its business model. The behemoth crypto company swiftly launched the Binance Smart Chain (BSC), allowing developers to create decentralized new projects and facilitate fast and cheap transactions, to retain market relevance.

With these points, you begin to grasp why BNB is a mainstay investment vehicle in this rapidly evolving industry.

Uniswap

Uniswap is arguably the best-performing decentralized trading protocol (DEX), despite its relatively late entry into the space. Uniswap serves as a reliable medium for users to “swap” one token for another in a truly decentralized fashion, compared to centralized exchanges like Binance.

The launch of Uniswap V3 in May opened the doors to better lending operations for Lending Partners (market makers). Since this launch, Uniswap has grown from 1.6 million users to over 2.7 million users in four months.

Cryptocurrency Market Volatile: A Fundamental Concern

One salient principle to follow when investing is to scout for a product that solves a real-world problem and dominates its peers. Uniswap and Binance Coin fulfill both requirements.

Nonetheless, investors should anticipate and take safety measures against erratic volatility swings, which occur regularly in the crypto industry. Uniswap is an even guiltier party to this market action.

 

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Binance (BNBUSD) Price: Bulls May Dominate Soon

Updated:

BNBUSD Price Analysis – September 24

The price may continue its bearish movement if the daily candle close below the $364 level, the support levels of $311 and $254 may be the target. Inability to break down the $364 level by the bears may leads to bullish trend towards $430, $503 and $599 levels.

BNB/USD Market

Key levels:

Supply levels: $430, $503, $599

Demand levels: $364, $311, $254

BNBUSD Long-term Trend: Bearish

BNBUSD is bearish on the long-term outlook. The coin followed the direction of the double top chart pattern formed on September 05. It is a bearish signal and the bears holds unto the Binance Coin market. Former support level of $430 has turned to resistance level. The price level at $364 was penetrated downside on September 21 but currently pulls back.

BNBUSD Daily chart, September 24

The Binance Coin pulls back to retest the dynamic resistance levels, it continue trading below the two EMAs which indicate that bears are still in control of the market. The fast moving EMA (9 periods) remains below the slow moving EMA (21 periods). The price may continue its bearish movement if the daily candle close below the $364 level, the support levels of $311 and $254 may be the target. Inability to break down the $364 level by the bears may leads to bullish trend towards $430, $503 and $599 levels.

BNBUSD medium-term Trend: Bearish

Binance coin is on the bearish movement on the 4 hour chart. The sellers are still holding unto the Binance coin market as the support level of $364 was penetrated last week. The buyers interrupted the bearish movement and the low of $311 could not be reached. The price pulls back to retest the dynamic resistance levels.

BNBUSD 4 hour chart, September 24

The Binance Coin is trading below the 9 periods EMA and 21 periods EMA which indicate that sellers are gradually returning in to the market.

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Binance (BNBUSD) Price: Bears Oppose Bulls at $503 Level, Further Price Declination Envisaged

Updated:

BNBUSD Price Analysis – September 17

The price may decline further towards the previous low of $364. In case, the daily candle closed below the just mentioned level, then, the price may decline to $311 and $254 support levels. Should the bulls break up the resistance level of $433, price may reach $503 and $599 resistance levels.

BNB/USD Market

Key levels:

Supply levels: $433, $503, $599

Demand levels: $364, $311, $254

BNBUSD Long-term Trend: Bearish

BNBUSD is bearish on the long-term outlook. The bears are holding to the Binance Coin market; this scenario commenced when the coin reached the resistance level of $503 on 23 August. The bulls were unable to break up the barrier at the level just mentioned. The bears moved in to the market with full force; this is noticed with the formation of strong daily bearish candle that pushes the price down to the support level of $364. The support level rejects the price and it commences ranging movement.

BNBUSD Daily chart, September 17

The Binance Coin continue its trading below the two EMAs which indicate that bears are dominating the market while the fast moving EMA (9 periods) is remains below  the slow moving EMA (21 periods). The price may decline further towards the previous low of $364. In case, the daily candle closed below the just mentioned level, then, the price may decline to $311 and $254 support levels. Should the bulls break up the resistance level of $433, price may reach $503 and $599 resistance levels. The relative strength indicator is at 40 levels bending upside which indicate buy signal.

BNBUSD medium-term Trend: Bearish

Binance coin is on the bearish movement on the 4 hour chart. After the consolidation that took place at the resistance level of $503. The bears prevailed over the bulls and the price decreased sharply to the support level of $364. It pulled back to retest the previous high. The coin is currently declining towards the support level of $364.

BNBUSD 4 hours chart, September 17

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

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Binance (BNBUSD) Price May Bounce Off Resistance Level of $503

Updated:

BNBUSD Price Analysis – September 03

The sellers are strongly defending the $503 resistance level in which an increase in the sellers’ pressure may send the price down towards the support levels at $433, $420 and $364. On the other hand, an increase in the bulls’ momentum to break up the $503 resistance level may expose the price to $599 and $678 levels.

BNB/USD Market

Key levels:

Supply levels: $503, $599, $678

Demand levels: $433, $420, $364

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook. The bulls hold unto the Binance Coin market. Last week, the buyers pushed the price to reach the high of $503. It seems the bulls’ pressure could not break up the significant resistance level of $503. The price increase slow down and the price starts a ranging movement at the level as the bears’ pressure is equally weak.

BNBUSD daily chart, September 03

The Binance Coin is trading above the two EMAs which indicate that bulls are in control of the market while the fast moving EMA (9 periods) remains above the slow moving EMA (21 periods). The sellers are strongly defending the $503 resistance level in which an increase in the sellers’ pressure may send the price down towards the support levels at $433, $420 and $364. On the other hand, an increase in the bulls’ momentum to break up the $503 resistance level may expose the price to $599 and $678 levels.

BNBUSD medium-term Trend: Ranging

Binance coin is on the ranging movement on the 4 hour chart. After the testing of the resistance level of $503 by the coin which was carried out twice at separate time interval. The price retain its trading within the resistance level of $503 and the support level of $433. This may continue until there is breakout.

BNBUSD 4 hour chart, September 03

The Binance Coin is trading over and around the 9 periods EMA and 21 periods EMA which indicate that sellers’ and buyers’ momentum is weak.

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Binance (BNBUSD) Price Is Testing $433 Resistance Level Third Time, Bulls May Prevail

Updated:

BNBUSD Price Analysis – August 20

The resistance level of $420 has turned to support level and price is exposed to the resistance levels of $503, $599 and $678. The support levels below the current price can be found at $420, $364 and $311.

BNB/USD Market

Key levels:

Supply levels: $433, $503, $599

Demand levels: $420, $364, $311

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the long-term outlook. Last week, bulls dominate the coin’s market. Buyers’ momentum increases and the price equally increased. At the early period of last week market, the price consolidates at the resistance level of $420. On August 19, bulls gain more strength to break up the just mentioned level and it turns to support level. The price retest to $420 is ongoing at the moment.

BNBUSD Daily chart, August 20

 

The fast moving EMA (9 periods) is above the slow moving EMA (21 periods). The Binance Coin is trading above the two EMAs which indicate that bulls are in control of the Binance Coin market. The resistance level of $420 has turned to support level and price is exposed to the resistance levels of $503, $599 and $678. The support levels below the current price can be found at $420, $364 and $311.  The relative strength index period 14 is at 7o level with the signal line pointing up to indicate buy signal.

BNBUSD medium-term Trend: Bullish

Binance coin is bullish on the 4 hour chart. The bulls increase their pressure and break up the resistance level of $364. Price retest was carried to the broken level. The crypto increase to the resistance level of $433. The price is currently testing the resistance level of $433 third time and it is pulling back.

BNBUSD 4 hour chart, August 20

The Binance Coin is trading above 9 periods EMA and 21 periods EMA which indicate that Binance coin is under the buyers’ pressure.

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Binance (BNBUSD) Price May Break Up $364 Level to Target $420 Level

Updated:

BNBUSD Price Analysis – August 06

The price may break up the resistance level of $364 which may increase to $420 and $503 levels. Failure to break up the $364 level may send the price to the support levels at $311, $254 and $196.

BNB/USD Market

Key levels:

Supply levels: $364, $420, $503

Demand levels: $311, $254, $196

BNBUSD Long-term Trend: Bullish

On the long-term outlook, BNBUSD is bullish. The buyers are dominating the Binance Coin market. Though the bullish movement is slow but the price is trading above the two dynamic resistance levels which is an indication that bulls are reigning in the market. When it bottomed at the support level of $254 on 20 July the sellers lose momentum and the buyers’ momentum increases with the formation of daily bullish candles. The price is testing the resistance level of $364 at the moment.

BNBUSD Daily chart, August 06

The fast moving EMA (9 periods) is above the slow moving EMA (21 periods) while the Binance Coin is trading above the two EMAs, which indicate that bulls are taken over the Binance Coin market. The price may break up the resistance level of $364 which may increase to $420 and $503 levels. Failure to break up the $364 level may send the price to the support levels at $311, $254 and $196. However, the relative strength index period 14 is at 6o level displaying sell signal which may be a pullback.

BNBUSD medium-term Trend: Bullish

Binance coin is bullish on the 4 hour chart. The resistance level of $311 has turned to support level after it penetrated $311 level upside. The crypto is gradually increasing after it penetrated the dynamic resistance levels upside. The bullish movement may continue as the bulls’ pressure increase.

BNBUSD 4 hour chart, August 06

The Binance Coin is trading above 9 periods EMA and 21 periods EMA which indicate that the coin is under the bulls’ momentum.

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Binance (BNBUSD) Price Plunges to Technical Support

Updated:

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?

Updated:

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 

Updated:

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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