Bitcoin SV Price May Reverse at Support Level of $153

Bitcoin SV Price May Reverse at Support Level of $153

Bitcoin SV Price Analysis – September 21

The closing of a daily bearish candle below the support level at $153 may push the coin down to the support levels at $134 and $130. Should the support level of $153 holds the price, then, it will bounce and reverse to face the resistance levels at $171, $185, and $198.

BSV/USD Market
Key Levels:

Resistance levels: $171, $185, $198
Support levels: $153, $134, $130

BSV/USD Long-term Trend: Bearish

The Crypto was consolidating below the dynamic resistance levels for almost a week after the Bitcoin SV breaks down the $171 price level. On September 20, the bears gained more momentum and the price decreased yesterday with -4.8%. This is noticed on the daily chart with the formation of a daily strong bearish candle that penetrates the support level at $153 level. The daily bearish candle closes above the support level at $171.

BSVUSD Daily chart, September 21

Today, the BSV market opens with a bullish candle, which indicates the tendency for the crypto to reverse at the $153 support level. Nevertheless, the price still remains below the 9 periods EMA and 21 periods EMA as a sign of bearish movement. The closing of a daily bearish candle below the support level at $153 may push the coin down to the support levels at $134 and $130. Should the support level of $153 holds the price, then, it will bounce and reverse to face the resistance levels at $171, $185, and $198.

BSV/USD Medium-term Trend: Bearish

BSVUSD is bearish in the 4-hour chart. The coin is testing the support level of $152 the second time. The first attempt was on September 03; the price decline and found support at $152 level. It may bounce and experience a bullish reversal movement in case the bears defend the $152 level.

BSVUSD 4-hour chart, September 20

BSV is trading below the 9 periods EMA and 21 periods EMA in which the two EMAs are well separated from each other which indicates an increase in the bears’ pressure. The relative strength index period 14 is rising from the oversold region suggest an increase in the price of BSVUSD.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

XRP/USD price Is Struggling to Rise Above Big Resistance

XRP/USD price Is Struggling to Rise Above Big Resistance

XRP/USD Market September 20

The price may decline to retest the support level at $0.22, and if the seller’s pressure increases, the level may be penetrated and reduce to $20 and $17 price level. In case the resistance level of $0.25 is penetrated, the price will be exposed to $27 and $29.

Key Levels:

Resistance levels: $0.25, $0.27, $0.29
Support levels: $0.22, $0.20, $0.17

XRP/USD Long-term Trend: Ranging

The bears are yet to break down the support level at the $0.22; likewise, the bulls’ momentum is not strong enough to break up the resistance level at $0.25. That is one of the major reasons why the crypto is still ranging within the level of $0.25 and $0.22. However, the price action has formed an ascending channel within the range. The price has the tendency to break up the resistance level of $0.25 provided the bulls’ momentum increased.

XRPUSD daily chart, September 20

The 9 periods EMA is below the 21 periods EMA at close range and the price is trading below the two EMAs. It indicates that the bears are having the upper hand over the bulls today. The price may decline to retest the support level at $0.22, and if the seller’s pressure increases, the level may be penetrated and reduce to $20 and $17 price level. In case the resistance level of $0.25 is penetrated, the price will be exposed to $27 and $29. However, the signal line of relative strength index period 14 is bending down at 40 levels which indicate sell signal.

XRP/USD medium-term Trend: Ranging

The ranging movement continues in the XRP market in the 4-hour chart. The bullish pressure is not enough to break up the resistance level at $0.25 when the price tested the level yesterday. That makes the price to change direction towards the south.

XRPUSD 4-hour chart, September 20

The crypto has crossed the two EMAs downside and the price is trading below the 9 periods EMA and 21 periods EMA. Consolidation continues until there is a breakout at $0.25 or $0.22 price level. The relative strength index period 14 is bending down at 40 levels which connotes a sell signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

A Quick Dive Into Yearn.Finance: The DeFi Gateway Making Rounds

A Quick Dive Into Yearn.Finance: The DeFi Gateway Making Rounds

Yearn.Finance aims at becoming a portal to a basket of yield-generating digital products in the Ethereum ecosystem. After a groundbreaking ascent in August 2020, this crypto asset has now garnered an investment of more than $650 million, seeking significant returns in the booming decentralized finance (DeFi) industry.

However, Yearn has multiple elements to it making the platform difficult to understand, which raises a barrier-to-entry for novice investors.

What is Yearn.Finance?

Yearn.Finance in simple terms is a portal to multiple DeFi products. That said, given that the DeFi industry has now pooled about $8 billion in investment, mainstream traders could begin flocking in anytime soon, precipitating a subsequent boom.

Yearn has also featured user interfaces to DeFi products from other firms, in a bid to make active trading more pleasant and easy. For instance, Zap is an access point for Zapper.fi (which makes trading complex positions simpler) and Cover is an access point to Nexus Mutual (which allows investors to hedge their smart-contract risk on Yearn). Meanwhile, several other products are being experimented on.

However, the main attraction and cause of frenzy for investors are the products Yearn.Finance offers.

What is the YFI token?

YFI is the native token for Yearn. This token has bowled many investors over because of a fundamental reason; the founder of the firm, Andre Cronje, didn’t keep any token aside for himself. Many saw this as a benevolent act.

At press time, there are only 30,000 YFI tokens in existence and they have all been distributed. However, YFI documents show that new tokens can be minted through executive decisions (governance).

To be a part of governance, YFI holders are required to stake their tokens. Once they cast a vote, their tokens are locked in the platform for about three days. This has been pointed out by some as a downside. On the other hand, token holders receive a small fee for voting.

What is Yearn.Finance’s Earn product?

On Earn, investors can make deposits using any of the following stablecoins: TUSD, USDC, wBTC, DAI, sUSD, and USDT. After that, Yearn finds a suitable DeFi platform where investors can make the most yield.

What are Vaults on Yearn.Finance?

Vaults are the Yearn product causing the most uproar among investors. Vault allows investors to hold an asset of their choice while simultaneously making a profit off it. For example, lovers of LINK can earn LINK by allowing Yearn to put it to work. Investors fix the asset somewhere while Yearn borrows some stablecoins against that asset. These stablecoins are subsequently used to scour for yield-farming opportunities, constantly adjusting as opportunities transition.

Meanwhile, the excos of the firm have assured that common people can participate in Yearn through several mining processes as a start. They also mentioned that the DeFi industry will still be producing significant long-term value, long after these high yields fade.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

Binance (BNBUSD) Price May Increase Towards Previous High Provided Support Level of $26 holds

Binance (BNBUSD) Price May Increase Towards Previous High Provided Support Level of $26 holds

BNBUSD Price Analysis – September 18

An increase in the bears’ pressure may break down the support level at $26 which may drop the price to $24 and $22 support level. In case the support level at $26 holds, consolidation may continue. The coin may face barriers at $30, $35, and $41 resistance level.

BNB/USD Market
Key levels:

Supply levels: $30, $35, $41
Demand levels: $26, $24, $22

BNBUSD Long-term Trend: Bullish

The buyer’s pressure has pushed the price to a significant resistance level of $30. The coin is bullish on the daily time frame. A bearish reversal candle pattern emerges called Doji evening star at the same resistance level. This is the major reason why the price dropped suddenly to the support level at $26 with the formation of a massive bearish candle. The bears have made attempt thrice to break down the support level at $26 but unable, then, consolidation commences.

BNBUSD Daily chart, September 18

The price sits directly on the dynamic support level consolidating. The 9 periods EMA is above the 21 periods EMA and the coin is at the top of the two indicating that the bulls are still holding the market. An increase in the bears’ pressure may break down the support level at $26 which may drop the price to $24 and $22 support level. In case the support level at $26 holds, consolidation may continue. The coin may face barriers at $30, $35, and $41 resistance level.

BNBUSD medium-term Trend: Bearish

BNB price is bearish in the 4-hour chart. The crypto was on the bullish trend last week. The bullish trend was interrupted by the sellers when a big bearish candle emerges as an engulfing candle to the previous one at the $30 price level. The price decline to the support level at $26, it bounces and tests the level a second time.

BNBUSD 4-hour chart, September 18

The price may increase towards the previous high in case the demand level of $26 holds.The crypto is trading between the 9 periods EMA and 21 periods EMA and the Relative Strength Index period 14 pointing down at 50 levels indicate a sell signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

Bitcoin SV Price Is Warming Up for a Breakout at $171 or $153 Level

Bitcoin SV Price Is Warming Up for a Breakout at $171 or $153 Level

Bitcoin SV Price Analysis – September 17

Increasing in the buyers’ momentum will break up the resistance level at $171, which may increase to $185 and $198 resistance level. In case the buyers fail to break up the resistance level of $171, the sellers may push the price to break down the support level at $153 and this will expose the price to $134 and $130 price level.

BSV/USD Market
Key Levels:

Resistance levels: $171, $185, $198
Support levels: $153, $134, $130

BSV/USD Long-term Trend: Bearish

Bitcoin SV market is experiencing little or no significant movement as the sellers’ and the buyers’ momentum seems to be at equilibrium. The price found support at the $153 support level on September 03 with strong and massive bearish candles that emerges. The support level was defended by the buyers and the bearish trend was interrupted, the price pulled back to retest the broken level at $171 price level. The price is gradually consolidating around the dynamic resistance level of 9 periods EMA.

BSV Daily chart, September 17

The two EMAs are descending above the price, in other words, the crypto is trading below the 9 periods EMA and 21 periods EMA. Increasing in the buyers’ momentum will break up the resistance level at $171, which may increase to $185 and $198 resistance level. In case the buyers fail to break up the resistance level of $171, the sellers may push the price to break down the support level at $153 and this will expose the price to $134 and $130 price level.

BSV/USD Medium-term Trend: Ranging

The declination of BSVUSD price to break down the support level of $153 was interrupted by the buyers and the price was ranging towards the $171 resistance level, fake breakout was experienced. The price returned into the ranging zone within the $171 resistance level and $153 support level.

BSV 4-hour chart, September 17

BSV is trading around and over the 9 periods EMA and 21 periods EMA in which the two EMAs are interlocked to each other which connotes that consolidation is in progress in the Bitcoin SV market. The relative strength index period 14 is not displaying any specific direction. Traders should wait for the breakout or place pending order.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

Cardano Price Continues Bearish Movement After a Pullback to $0.10 Level

Cardano Price Continues Bearish Movement After a Pullback to $0.10 Level

 ADA Price Analysis – September 16

 Cardano price is currently decreasing towards the support level at $0.08, and in case the level could not hold the price, the price may reduce further to $0.07 and $0.06 price level. Should the support level of $0.08 holds, price consolidation may continue.

 ADA/USD Market
 Key Levels:

 Resistance levels: $0.10, $0.11, $0.13

Support levels: $0.08, $0.07, $0.06

 ADA/USD Long-term Trend: Bearish

 The bearish movement that commenced on September 02 found support at $0.08 on September 05. The sellers’ pressure became weak; this is noticed with the price consolidation at $0.08. ADA price pulled back to retest the broken level at $0.10 and the price started consolidating at the same level. Yesterday, the sellers gathered more momentum, and the price decreased by – 3.42%. Today, a further decrease in price envisaged as the sellers dominate the ADA market at the opening of the market.

ADA Daily chart, September 16

Cardano price is currently decreasing towards the support level at $0.08, and in case the level could not hold the price, the price may reduce further to $0.07 and $0.06 price level. Should the support level of $0.08 holds, price consolidation may continue. However, the resistance levels Cardano price may encounter are $0.10, $0.11, and $0.13. The price remains below the two dynamic support levels and it is trading below the 9 periods EMA and 21 periods EMA. 

 ADA/USD Medium-term Trend: Bearish

 Cardano is bearish in the 4-hour chart. The breakdown of the demand levels of $0.11 extends the bearish pressure to $0.10 and this reduces the price to the demand level at $0.08. The mentioned demand level holds and the price retraces towards the $0.10 resistance level. At the moment, the price is decreasing towards the support level at $0.08.  

ADA 4-hour chart, September 16

 ADA price is trading below the 9 periods EMA and 21 periods EMA in which the former is below the later which confirms the bearish movement in the ADA market. The Relative Strength Index period 14 is below 40 levels pointing up to indicate a buy signal which may be a pullback. The price may retest the support level at $0.08. 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

Futures–brand Benefits of Trading in Futures

Futures–brand Benefits of Trading in Futures

A career in financial products trading is highly lucrative.
There are many people all over the world who are already involved in this industry. Many only know about forex trading, whereas there are numerous assets and contracts one can trade. A trader in Singapore is open to invest in stocks, commodities, options and futures among others.

In this article, we will focus on futures. The benefits of trading in futures in the financial markets.

What are futures?
Futures, as the name suggests are contracts underpinned on a particular financial asset, for example a stock, that will be delivered at a future date for an agreed price.
Two traders A and B are interested in a particular stock or commodity. A already has it in their possession while B believes he could make a profit in the future if the price goes down or up. They therefore agree that A will sell his assets to B at a particular price in the future.

If on the agreed date, the stock price is below the agreed price, B will have to hold the stock for a while to make a profit while A will make his profit depending on the price that he had bought his asset at.
How do you trade futures?
To trade futures in Singapore, one has to access the financial markets through a broker.

One of the most reputable brokers in Singapore is Saxo bank group. Saxo’s trading platforms have been used and trusted by Singapore traders for decades.

With their platforms, you have access to the forex market and can enter into futures contracts with other traders around the world.

Benefits of trading futures
Easy to trade
Like with every other financial market trading, all you need is access to the market through a reputable broker like Saxo.

Further, you need to invest in the right kind of education to make sure that every trade you make is well thought out and likely to make you a profit.

With a click of a button, you can easily enter into a futures contract and look forward to high profits.
Leverage
In forex trading, traders are able to capture a larger portion of the market than they capital they have allows. This is due to a strategy known as leverage.

Here, your trading broker allows lends you money to allow you to buy more than you can currently buy. After you have completed your trade profitably, you can return the brokers money.

This enables a futures trader to hold more assets which can result in higher profits and better deals when getting into contracts.

Use of margins
When trading futures, you do not have to buy the asset at once. You will pay a small amount of consideration as you enter into the contract. This amount you pay is known as margin. This allows you to buy an asset even when you do not have the full amount.

Since futures are guaranteed, you will get full ownership of the asset in the future at a previously agreed price. If the trade is favorable, you can get into a profitable position immediately.

High liquidity in the futures market
Unlike in other financial markets, there are high volumes of futures contracts traded every day. Thus, high liquidity levels. There is a high demand for futures in the market, which translates into more orders and many buyers in the market.

This also means that, there the prices are reasonable, and thus it is much easier to recoup your investments and make a reasonable profit.

Easier risk management
Trading futures is a good strategy to manage the risks of loss that traders are exposed to in the market.

Conclusion
Traders in Singapore can buy into the futures market to discover even more benefits. Saxo bank group has been in existence for decades and is well placed to advise their clients and to offer the best platforms to make profitable trades.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

Bitcoin SV Price May Break Down Support Level at $153

Bitcoin SV Price May Break Down Support Level at $153

Bitcoin SV Price Analysis – September 14

An increase in the sellers’ pressure may break down the demand level at $153; the targeted price level may be the support at $134 and $130. Ranging movement may commence in case the support level of $153 holds. However, the price may found resistance levels at $185, $198, and $217 level.

BSV/USD Market
Key Levels:

Resistance levels: $185, $198, $217
Support levels: $153, $134, $130

BSV/USD Long-term Trend: Bearish

The sellers maintain their position in the BSV market. BSV price hits the support level at $153 on September 03 with a strong and massive bearish candle but unable to break down the level. The price retraced to retest the resistance level at $185; this was carried out on September 08. The price bounces off the resistance level and returns the price under the control of the sellers. The price may break down the support level at $185.

BSV Daily chart, September 14

The crypto has crossed the two dynamic support levels downside and it is trading below 9 periods EMA and 21 periods EMA with the two separated from each other to indicate an increase in the bears’ momentum. An increase in the sellers’ pressure may break down the demand level at $153; the targeted price level may be the support at $134 and $130. Ranging movement may commence in case the support level of $153 holds. However, the price may found resistance levels at $185, $198, and $217 level.

BSV/USD Medium-term Trend: Bearish

The last week’s bearish target was reached; BSVUSD decline to test the support level at $153. The mentioned level repels the price. The bulls seize the opportunity to increase the price and retest the resistance level at $185. The bulls’ momentum is not strong enough to break up the $185 price level.

BSV 4-hour chart, September 14

BSV is currently declining towards the support level at $153 and the price is trading below the 9 periods EMA and the 21 periods EMA. The relative strength index is below 40 levels with the signal line bending down to indicate a sell signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

XRP/USD price May Continue Bearish Trend, Aiming at $0.20 Price Level

XRP/USD price May Continue Bearish Trend, Aiming at $0.20 Price Level

XRP/USD Market September 13

The bulls may push up the coin to break up the resistance level at $0.26 and expose the coin to $0.29 and $0.33 price levels. Should the bears defend the resistance level of $0.26, it may continue in a bearish trend which may break down the $0.21 support level and further decrease may reach $0.20 and $0.17.

Key Levels:

Resistance levels: $0.26, $0.29, $0.33
Support levels: $0.21, $0.20, $0.17

XRP/USD Long-term Trend: Bearish

XRPUSD is bearish in the long – term outlook. The crypto found support at $0.21 price level on September 05. It consolidates for some days at the same level. The bears find it difficult to break down the $0.21 price level. The bulls are gathering momentum gradually to push up the price. The price is currently testing the dynamic support level of 21 periods EMA after it penetrates the 9 periods EMA.

XRPUSD Daily chart, September 13

XRP is directly in contact with the two EMAs trading below 9 periods EMA and 21 periods EMA at a close range which indicates that the bears may take over the XRP market soon. The bulls may push up the coin to break up the resistance level at $0.26 and expose the coin to $0.29 and $0.33 price levels. Should the bears defend the resistance level of $0.26, it may continue in a bearish trend which may break down the $0.21 support level and further decrease may reach $0.20 and $0.17.

XRP/USD medium-term Trend: Bearish

The bears are still keeping XRP/USD under their pressure, that is, the coin is bearish in the 4-hour chart. In the earlier hour of today’s market, the crypto increases towards the resistance level at $0.26. The bears interrupted the price increase with the formation of an evening star candle pattern. The price changes direction and breaks down the dynamic support levels.

XRPUSD 4-hour chart, September 13

The coin is trading below the two EMAs and the 9 periods EMA crossing the 21 periods EMA downside, which indicates an increase in the bears’ momentum. The support level at $0.21 may be penetrated.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9

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

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

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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9