BINANCE (BNBUSD) Price: Would the Buyers Defend Support Level at $37?

31 December 2020 | Updated: 31 December 2020
BNBUSD Price Analysis – December 31

In case the sellers were able to push the price below the support level of $37 and the daily candlestick close below the level, then, the price may decline further to test $31 and $27 support level. Inability to break down the support level of $37, the bullish trend may continue to target the resistance levels at $41, $44 and $48.

GBP/JPY Market
Key levels:

Supply levels: $41, $44, $48

Demand levels: $37, $31, $27

BNBUSD Long-term trend: Bullish

BNBUSD is bullish on the long-term outlook. The coin broke out of the ranging zone on December 19. The bulls acquired more momentum and pushed up the coin to reach a high of $37 on December 20. The resistance at the just mentioned level prevented further increase in price and the price retraced to the $31 support level. The Bears could not maintain the pressure, the price bounced and the $37 level was penetrated and the price reached $41 level yesterday. The bearish momentum opened the market today with the possibility of decreasing further provided the support level at $37 does not hold.

BNBUSD Daily chart, December 31

The 21 periods EMA is below the 9 periods EMA and the coin is trading above the two EMAs at the distance which connotes that the Buyers’ pressure is increasing. The Relative Strength Index period 14 is below 70 levels with the signal lines pointing down to indicate a sell signal which may be a pullback. In case the sellers were able to push the price below the support level of $37 and the daily candlestick close below the level, then, the price may decline further to test $31 and $27 support level. Inability to break down the support level of $37, the bullish trend may continue to target the resistance levels at $41, $44 and $48.

 BNBUSD medium-term Trend: Bullish

The price action of BNBUSD has formed an ascending channel in the 4-hour chart. The price is currently moving towards the lower trend line of the channel. The 9 periods are above the 21 periods EMA and it is trading above the two EMAs which connote an increase in the bulls’ momentum.

BNBUSD 4 hour chart, December 31

The RSI indicator period 14 is at 0 levels and the signal lines bending up to indicate a buy signal.

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Annual forecast for Binance Coin (2021): Further Price Increase Is Envisaged

25 December 2020 | Updated: 25 December 2020
BNBUSD Price Analysis – December 25

The ability to break up the resistance level of $37 will expose the price to $41 and $48. In case the resistance level of $37 is defended by the bears, the price may reverse and face the $26, $24, and $22 support level.

BNB/USD Market
Key levels:

Resistance levels: $37, $41, $487
support levels: $26, $24, $22

BNBUSD Monthly Char: Bullish

The bulls dominate the BNBUSD market throughout the year 2020. The coin found support at the $12.1 level before the beginning of this year. Consolidation took place for three months. In July, the bulls gained more momentum and the price increased to break up the key resistance level of $20. The price increased towards the resistance level of $27. The bulls continuously increasing their pressure and the price level of $31 was tested and broken upside. The high of July 2019 is already reached this year.

BNBUSD Monthly chart, December 25

The price has already broken up the 9 periods EMA and 21 periods EMA and the coin is trading above the two EMAs at a distance which indicates an increase in the bulls’ momentum. The ability to break up the resistance level of $37 will expose the price to $41 and $48. In case the resistance level of $37 is defended by the bears, the price may reverse and face the $26, $24, and $22 support level. The Relative Strength Index period 14 is pointing up at 70 levels to indicate a buy signal. The price may test the resistance level of $41 before it reverses in the next year 2021.

BNBUSD Weekly Chart: Bullish

The BNBUSD steadily increases this year; it means the bulls’ momentum is relatively stable in the BNB market. The price increase was triggered at the support level of $12. The resistance level of $20, $27 and $31 was penetrated to test the $37 price level on December 21.
The 9 periods EMA is found below the 21 periods EMA from the beginning of the year; meaning that the uptrend is steady.

BNBUSD Weekly chart, December 25

The price is trading above the two EMAs which indicates a bullish signal. There is a high probability that BNBUSD will continue its bullish trend in 2021.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

 

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Binance (BNBUSD) Looks Ready to Break Lower

11 December 2020 | Updated: 11 December 2020
BNBUSD Price Analysis – December 11

The ability to break down the support level of $26 will expose the price to $24 and $22. In case the support level of $26 is defended by the bulls, the price may reverse and face the $29. $33, and $37 resistance price level.

BNB/USD Market
Key levels:

Supply levels: $29, $31, $33, $37

Demand levels: $26, $24, $22

BNBUSD Long-term Trend: Bearish

BNBUSD is bearish on the long-term outlook. The price action formed a symmetrical triangle in the daily chart last week inside which the price was seeking a breakout. The bears eventually prevailed over the bulls.  The price broke out at the $29 support level. The price decline towards the $26 support level and the level is tested and pulls back slightly. Today, another daily bearish candle emerges and that indicate further price reduction.

BNBUSD daily chart, December 11

The 9 periods EMA is under 21 periods EMA and the coin is trading below the two EMAs at a distance which indicates increase in the bears’ momentum. The ability to break down the support level of $26 will expose the price to $24 and $22. In case the support level of $26 is defended by the bulls, the price may reverse and face the $29. $33, and $37 resistance price level. The Relative Strength Index period 14 is bending down at 40 levels connotes sell signal.

BNBUSD medium-term Trend: Bearish

The bears are controlling the BNBUSD market in the 4 hour chart. The bears pushed the price out of the symmetrical triangle, the former support level of $29 was penetrated down side and the price is moving closer to the support level of $26.

BNBUSD 4-hour chart, December 11

The 9 periods EMA has crossed the 21 periods EMA downside, and the price is trading below the 9 periods EMA which indicates increase in the sellers’ pressure. However, the relative strength index period 14 is at 20 levels pointing down to indicate a sell signal.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

 

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Binance (BNBUSD) May Reverse at $26 level as Double Bottom Chart Pattern Formed

28 November 2020 | Updated: 28 November 2020
BNBUSD Price Analysis – November 27

The breakdown of the support level of $26 may push down the price to the September low which is the $22 level provided the $26 and $24 price level do not hold. In case the support level of $26 holds, the price may reverse and face the resistance levels of $29, $31, and $33.

BNB/USD Market
Key levels:

Supply levels: $29, $31, $33
Demand levels: $26, $24, $22

BNBUSD Long-term Trend: Bearish

On the long-term outlook, BNBUSD is bearish. Two weeks ago, the crypto was on the ranging mode within the $29 and $26 price level. The bulls initially gained more pressure and push the coin to break out at the $29 resistance level. The price increase to test the resistance level of $33 after it breaks up the $31 level. The strong daily bearish candle emerges and interrupts the bulls on November 25. The bears continue to dominate the market and the support level of $26 was retested.

BNBUSD Daily chart, November 28

The two EMAs have been penetrated downside and the price is trading below the 9 periods EMA and 21 periods EMA which indicates that the bears are in control of the market. The breakdown of the support level of $26 may push down the price to the September low which is the $22 level provided the $26 and $24 price level do not hold. In case the support level of $26 holds, the price may reverse and face the resistance levels of $29, $31, and $33.

BNBUSD medium-term Trend: Bearish

The bulls pushed the coin to penetrate the resistance level of $33 but they are unable. The sellers gained more pressure to break down the support level of $31. The price declines to penetrate the $29.2 level which later extends to the $26.4 level.

BNBUSD 4-hour chart, November 28

The 9 periods EMA has crossed the 21 periods EMA downside and the coin is trading below the two EMAs to indicate that the bears are in control of the BNBUSD market. The Relative Strength Index period 14 is bending down at 40 levels which indicates a sell signal.

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4 Cautionary Crypto Tales From the Crypt

6 November 2020 | Updated: 6 November 2020

Witches, vampires, and ghouls. These Halloween beasties have nothing on every Bitcoiner’s worst nightmare: losing one’s digital gold in a fluke accident or misstep. We can practically hear you screaming at your screen right now.

In honour of Halloween season, we’re exploring four spine-tingling tales of brutal Bitcoin losses. We also throw in a little treat towards the end and reveal how you can make a killing on crypto with a LonghornFX account, without actually buying any Bitcoins. Intrigued? Read on to find out more.
1. IT guy chucks $127m Bitcoin in toxic landfill
British IT professional James Howells began mining Bitcoin on his personal laptop back in 2009 and by 2013 had amassed an impressive 7,500 Bitcoins. He sold the laptop on eBay but held on to the hard drive in the hope that his Bitcoins would increase in value. But while clearing out his house later that same year, he accidentally threw the drive away, which ended up being dumped in a Welsh landfill. When he realised his mistake, Howells desperately tried to get permission to search the landfill for his drive. His request was denied on the grounds that it was dangerous due to the toxicity of the landfill, plus it simply went against the law.

Fat lot of good that would have done him, anyway. With 50,000 tons of refuse added to the site every year, searching for one tiny hard drive would have been a much bigger problem than finding a needle in a haystack. Still, it may have just been worth the undertaking. It’s estimated that around 2017, when Howells realised what he’d done, his 7,500 Bitcoins would have been worth in excess of $127 million.

2. Aussie loses $7m Bitcoin after investing life savings
In a moment of mid-life crisis, former Australian journalist Derek Rose decided to do what for many would be the unthinkable. He withdrew his entire $70,000 life savings and invested it all into Bitcoin. Seeing that his initial capital was growing exponentially with the Bitcoin boom of 2016, Rose even started borrowing more money to increase his investment, and was soon earning close to half a million dollars a day.
But rather than listen to his financial advisor and friends who encouraged him to cash out while the going was good, Rose continued to ride that wave of euphoria and poured even more money more into crypto. Then the Christmas crash of 2017 hit and Rose saw his multi-million dollar account take a massive hit. He lost around $7 million at the time. Thankfully Rose didn’t lose everything. “This was a huge blow, but it didn’t wipe me out […] I’m still doing better with my investments than I would have if I had stayed in index funds.” Moral of the story: what goes up, must come down. No bullish rally will continue forever.

3. Tech journo forgets Bitcoin wallet PIN
Sometimes even the world’s most reliable tech geeks make massive errors. After amassing some $30,000 in Bitcoins, Wired magazine editor Mark Frauenfelder lost access to his crypto wallet. “I wrote my PIN code and recovery seed on the same piece of paper. I was planning to etch the seed on a metal bar and hide it, but before that happened my house-cleaning service threw the paper away,” he explained.

Frauenfelder was ready to kiss his Bitcoins goodbye when he finally met a stroke of good fortune. Thirteen months after losing his PIN, Mark was introduced to Saleem Rashid, a 15-year-old coding whiz from the UK. With Saleem’s help, Mark managed to hack into his crypto wallet and successfully retrieve his PIN and subsequently his Bitcoins. We bet Frauenfelder won’t be misplacing his new PIN any time soon!

4. Software designer wipes away $20k
When Bitcoin first began to cause a stir on the web back in 2010, Atlanta-based software developer Syl Turner thought he’d try his hand at mining and managed to earn himself two whole Bitcoins. As Bitcoins were worth pennies at the time, Syl didn’t give them much thought and eventually ended up storing his mining computer in his attic.

Fast forward a few years later and suddenly Syl sees a news alert pop up on his screen: Bitcoins are now worth $10,000! Syl shot straight up into the attic to retrieve his dormant PC. He found what he was looking for but when he booted the computer up, he realised he had mistakenly wiped the hard drive, meaning his crypto wallet key had vanished. That one mistake cost Syl $20,000, at the very least. If Syl still had access to his crypto wallet and HODLed, he may have seen his Bitcoin climb much, much higher.

Profiting from Crypto made simpler
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Trade on Bitcoin, Ether, Ripple, and more popular altcoins, all with 1:500 leverage. Open a free LonghornFX account and trade from as little as a $10 deposit!

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Binance (BNBUSD) Price; Bulls Defend $26 Support Level, Price May Rally Towards $31 Price Level

6 November 2020 | Updated: 6 November 2020
BNBUSD Price Analysis – November 06

The breakup of the $29 resistance level with the daily candle closes above the mentioned level will make the price rally towards the resistance level of $31, which may progress to $33 provided the bulls maintain their pressure.

BNB/USD Market
Key levels:

Supply levels: $29, $31, $33
Demand levels: $26, $24, $22

BNBUSD Long-term Trend: Bullish

On the daily chart, BNBUSD is bearish. The bearish momentum is getting weak. The bearish movement commenced on October 28 when the bulls could not break up the resistance level of $31. The coin declines under the pressure of the bears and the support level of $26 was reached. The bulls defend the support level of $26 and this hinders the breakdown of the level by the bears. The Doji star candle pattern is formed and the price has started an uptrend move towards the $29 price level.

BNBUSD Daily chart, November 06

The breakup of the $29 resistance level with the daily candle closes above the mentioned level will make the price rally towards the resistance level of $31, which may progress to $33 provided the bulls maintain their pressure. In case the bears defend the resistance level of $29, the bearish trend may continue and the price may reach the previous low at $22 provided $26, and the $24 price level is penetrated. Meanwhile, the relative strength index period 14 is pointing up above 40 levels to indicate a buy signal.

BNBUSD medium-term Trend: Bullish

The Bulls are taken over the BNB market. The bearish pressure could not break down the support level of $26. Bullish Engulfing candle pattern formed; this triggers the bulls’ momentum, the coin is testing the resistance level of $29 at the moment.

BNBUSD 4 hour chart, November 06

The 9 periods EMA is crossing the 21 periods EMA upside and the coin is trading above the two EMAs to indicate further increase in price. The Relative Strength Index period 14 is pointing up at 60 levels to indicate a buy signal.

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Binance (BNBUSD) Price Bounces at $18 Support Level, Targeting Resistance Level at $30

12 September 2020 | Updated: 13 September 2020

BNBUSD Price Analysis – September 12

Further increase in price is envisaged and the resistance level at $30 is likely to be tested. The breaking up of the just mentioned level will expose the coin to $35 and $41 price level. In case the increase in price is interrupted by the bears, the price may reverse and face the support levels at $24, $22, and $20.

BNB/USD Market
Key levels:

Supply levels: $30, $35, $41
Demand levels: $24, $22, $20

BNBUSD Long-term Trend: Bullish

The price was reduced to $18 demand level on September 05. The bearish pressure pushes the coin to test the support level at $18 but unable to reduce it to the $16 price level. On September 06, a strong and massive bullish engulfing candle emerges that break up the former resistance level of $22, price retracement was carried out the following day. The bulls gathered more momentum and push the price to break up $24 and $26 price levels. BNB price is heading towards the resistance level at $30.

BNB Daily chart, September 12

The 9 periods EMA is above the 21 periods EMA and the coin is trading above the two EMAs as a sign of a bullish trend. Further increase in price is envisaged and the resistance level at $30 is likely to be tested. The breaking up of the just mentioned level will expose the coin to $35 and $41 price level. In case the increase in price is interrupted by the bears, the price may reverse and face the support levels at $24, $22, and $20.

BNBUSD medium-term Trend: Bearish

BNB price has formed an ascending channel in the 4-hour chart and the price is soaring higher within the channel. In other words, the price is bullish in the medium-term trend. BNBUSD is trying to break up the upper trend line, if the candle breaks and close above it, then, the price may test the resistance level at $30 within a short period of time.

BNB 4-hour chart, September 12

The price is trading above the 9 periods EMA and 21 periods EMA couple with the Relative Strength Index period 14 pointing up at 70 levels indicate that the bullish trend may continue.

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BINANCE (BNBUSD) Price May Continue Ranging Movement Within $24 and $22 Levels

28 August 2020 | Updated: 28 August 2020
BNBUSD Price Analysis – August 28

A breakup at the $24 level by the bulls may lead to the soaring of the price to $30 level in which further increase will increases the price to $35. The continuation of the bears defending the $24 resistance level may drop the price to the previous low at $20; below the level is $18 support level.

BNB/USD Market
Key levels:

Supply levels: $24, $30, $35
Demand levels: $22, $20, $18

BNBUSD Long-term Trend: Ranging

The coin is conforming to a triple top chart pattern in the daily chart. August 05 was the first time the coin tested the resistance level at $24. The second time took place last week on August 17. Today, August 28 is the third time. The support level at $20 has been tested twice when the coin was pulling back from the resistance level at $24.

BNB Daily chart, August 28

BNB is testing the resistance level at $24 as at the time of writing this report. A breakup at the $24 level by the bulls may lead to the soaring of the price to $30 level in which further increase will increases the price to $35. The continuation of the bears defending the $24 resistance level may drop the price to the previous low at $20; below the level is $18 support level. The relative index indicator period 14 is at 60 levels with the signal line bending down which connotes sell signal.

BNBUSD medium-term Trend: Ranging

Ranging movement may continue in the 4-hour chart until there is a breakout either at the resistance level of $24 or at the demand level at $20. The bulls were defending the support level of $20 preventing bullish price breakout. In the same vein, the bulls were defending the resistance at $24, preventing price decrease.

BNBUSD 4-hour chart, August 28

The price may decline provided the level holds the price and also it has touched the same level three times. However, the relative strength index period 14 is exhibiting sell signal at 60 levels.

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BINANCE (BNBUSD) Price Penetrates Support Level at $21, Further Decrease Envisaged

14 August 2020 | Updated: 14 August 2020
BNBUSD Price Analysis – August 14

Should daily candle close below the $20 level, then, the sellers will have enough opportunity to sell the coin to the low demand level at $18 and $16. When demand level at $20 continues to hold the price, the bullish trend may continue and the resistance levels may be found at $21, $22, and $23.

GBP/JPY Market
Key levels:

Supply levels: $21, $22, $23
Demand levels: $20, $18, $16

BNBUSD Long-term trend: Bearish

The strength of the buyers is becoming weak and the sellers are technically taking over the market, in order words BNBUSD is bearish. Nevertheless, amid the bearish zone, the bulls made the coin to have a change of 1.39% yesterday as the daily candle was rejected at the demand level of $20. This morning, another bearish candle emerges that is currently breaking the demand level at $20 downside.

BNBUSD Daily chart, August 14

Looking at the daily chart, the coin is breaking down the dynamic support level. The price is trading between 19 periods EMA and 21 periods EMA. The support level at $20 has been tested thrice and the price was rejected, should daily candle close below the $20 level, then, the sellers will have enough opportunity to sell the coin to the low demand level at $18 and $16. When demand level at $20 continues to hold the price, the bullish trend may continue and the resistance levels may be found at $21, $22, and $23.

BNBUSD medium-term Trend: Bearish

BNB is bearish in the 4-hour time frame. The price is currently trading below the $20 price level and more bearish candles are producing which indicates that the price may decline further. The asymmetrical triangle is equally formed with the price action and it is pressing the lower trend line of the shape.

BNBUSD 4-hour chart, August 14

The Relative Strength Indicator period 14 is above 40 levels exhibiting a sell signal. Selling the coin to the $20 demand level may likely come to play.

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BINANCE (BNBUSD) Price: Would Buyers Defend Support Level at $21?

8 August 2020 | Updated: 8 August 2020

BNBUSD Price Analysis – August 08

In case the sellers were able to push the price below the demand level of $21 and the daily candlestick close below the level, then, the price may decline further to test $20 and $18 demand level. Inability to break down the demand level of $21, the bullish trend may continue to target the resistance levels at $22, $23 and $24.

BNB/USD Market

Key levels:

Supply levels: $22, $23, $24
Demand levels: $21, $20, $18

BNBUSD Long-term trend: Bullish


BNBUSD is bullish on the long-term outlook. The coin broke out of the consolidation zone on July 23. The bulls acquired more momentum and pushed up the coin to reach a high of $23 on August 05. The resistance at the level prevented further increase in price and the price dropped to the $21 support level. The Bears are yet to penetrate the just mentioned level before the market closed on August 07. The bearish momentum opened the market today with the possibility of decreasing further provided the support level at $21 does not hold.

BNBUSD Daily chart, August 08

The 21 periods EMA is below the 9 periods EMA and the coin is trading closely touching the two EMAs at the demand level of $21 which connotes that the Buyers’ pressure is gradually reducing and sellers may take over the market soon. The Relative Strength Index period 14 is at 70 levels with the signal lines pointing down to indicate a sell signal. In case the sellers were able to push the price below the demand level of $21 and the daily candlestick close below the level, then, the price may decline further to test $20 and $18 demand level. Inability to break down the demand level of $21, the bullish trend may continue to target the resistance levels at $22, $23 and $24.

BNBUSD medium-term Trend: Bullish

The price action of BNBUSD has formed an ascending channel in the 4-hour chart. The price is currently touching the lower trend line of the channel. The 9 periods are crossing the 21 periods EMA downside and it is trading below the two EMAs which connotes an increase in the bears’ momentum.

BNBUSD 4-hour chart, August 08

The RSI indicator period 14 is at 40 levels and the signal lines bending up to indicate a buy signal. Suggested trade setup; Buy Stop order at $23.00, Take profit at $26.00 and Stop loss at $20.00.

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Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
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$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
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$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
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$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.