Binance Coin (BNBUSD): Ferkeapersmomentum nimt ta, foarige leech by $ 276 kin wurde hifke

Azeez Mustapha

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Binance Coin experiences a bearish breakout

BNBUSD Priis Analysis - 12 mei

Binance Coin may hit its most recent lows of $300 and $286 and eventually close at the psychological level of $276 if sellers get further traction. The $314 resistance level can be broken on the upside, probing the $332 and $348 resistance levels, if buyers are able to hold off against the $300 support level.

BNB / USD Merke

Key nivo's:

Oanbiedingsnivo's: $ 314, $ 332, $ 348

Fraachnivo's: $ 300, $ 286, $ 276

BNBUSD Lange termyntrend: bearich

On the long-term outlook, BNBUSD is bearish.  When the Binance coin reached a high of $348 on March 18, a bearish trend got underway. As the bullish trend slowed, sellers took control of the market. Prior to falling beyond the $314 level of support, the price floats in a range for a few days. The $300 level was put to the test as the bearish trend intensified. The price seems to be heading toward the $286 level if the $300 level permits. The price is currently under seller’s control.

A bearish swing is indicated by the downward crossover of the 21-period EMA by the 9-period EMA. The price of Binance Coin is currently trading below the two EMAs. Binance Coin may hit its most recent lows of $300 and $286 and eventually close at the psychological level of $276 if sellers get further traction. The $314 resistance level can be broken on the upside, probing the $332 and $348 resistance levels, if buyers are able to hold off against the $300 support level.

BNBUSD Trend op 'e lange termyn: Bearish

Binance Coin is bearish on the 4-hour chart. The double top chart pattern formed at the $348 level on 17 April is an indication that sellers are ready to take over the market. The price was forced to test the $348 resistance level, buyers lost momentum. Eventually, the bullish climb came to an end. Prices progressively moved closer to the $300 level as the sellers’ momentum increased.

Binance Coin is currently trading below the 9- and 21-period exponential moving averages, indicating a bearish market. When the signal line is pointing down at 32 levels, the relative strength index period 14 signals a sell.

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Azeez Mustapha

Azeez Mustapha is in hannelsprofessor, faluta -analyst, sinjalenstrategist, en fûnsbehearder mei mear dan tsien jier ûnderfining op finansjeel mêd. As blogger en auteur foar finânsjes helpt hy ynvestearders komplekse finansjele konsepten te begripen, har ynvestearingsfeardigens te ferbetterjen en te learen hoe't se har jild kinne behearje.

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