- BNB coin was performing in a negative momentum this week and got a pullback from its strong support zone on Tuesday’s trading session
- The coin price today is $38.42, which is down by 3.30% in last the 24 hours and 4.91% down from the previous week
- BNB/BTC pair is also performing positive with a gain of 2.00% in Tuesday’s trading session (0.0010993)
On the weekly chart, BNB coin was in a bearish trend and got a pullback in Tuesday’s trading session. The price went up to $45.16 on January 10, 2021, due to the coin’s heavy buying, and set a high benchmark, by breaking above the resistance zones created in the past. The BNB/BTC pair is in an uptrend with a value of 2.00% in Tuesday’s trading session (0.0010993).
BNB Coin Technical Indicators Suggests Neutral; Trend Remains Unclear
The weekly technical chart of BNB coin highlights a positive trend after a pullback in Tuesday’s trading session. The price is currently sitting at $38.42, with a resistance zone of $41.31. Following the support zone of $36.13, the price formed a bullish trend by giving a pullback from the strong support and now may struggle between the resistance and support in the upcoming trading session. Price is also below 50 days exponential moving average EMA ($40.50) and 200 days EMA ($39.11) indicating a negative trend.
On diving into the weekly chart of a 15-minute time frame, a three outside up candle is formed.
The Moving Average Convergence Divergence (MACD) had a bullish crossover signal line on January 12, 2021, trading session. This indicated a buy signal in the coin which would not last long as the coin is in a consolidation phase. Could also observe a few green bars in the Histogram.
Meanwhile, the Relative Strength Index (RSI) with a value of 50 indicates that the coin is neutral for now. Forming an ascending channel pattern in the index.
Concerning, The Schaff Trend Cycle (STC) with a value of 75.14 had a positive crossover at 25, reflecting a green buy sign in the coin.
Conclusion
Binance (BNB) coin price is in an uptrend with a pullback from its healthy support level of $36.13. It is below 50 days, EMA and 200 days, EMA. One can further expect a sideways trend in the upcoming trading session.
Resistance: $41.31
Support: $36.13
