- The BNB coin shows a bullish crossover of the 20-and100-day EMA
- The BNB/BTC pair was trading at 0.008881BTC, with a loss of 2.33%
- BNB coins have a 24-hour volume of $1.74 Billion.
The BNB coin signaled the end of its moderate retracement phase on September 22nd when the price bounced off the $330 mark and displayed a long bullish engulfing candle pattern. Later, the coin price provides a strong follow-up candle resulting in an almost 30% gain in just four trading days. The price is currently approaching a significant level of $432, which can provide strong resistance to this coin.
Concerning the EMAs: The BNB price shows a strong bullish trend with its price trading higher than all the critical EMA’s (20-50, 100, and 200). Moreover, the chart also shows a bullish crossover of the 20 and 100 EMA lines, attracting even more buyers in the market.
The RSI value is at 54, suggesting a bullish sentiment for BNB coins.
The BNB Coin Chart Displays A Rounding Bottom Pattern.
The BNB coin’s bottom shows a rounding formation in the 4hr time frame chart. The $432 mark is the neckline of this pattern. A bullish pattern such as this can offer more confirmation to coin traders and offer them a great long entry opportunity. The BNB coin currently trades at $158.7, with an intraday loss of 1.77%.
The moving average convergence/divergence(MACD) indicator shows the MACD and signal lines are moving above the neutral zone (0.00), indicating the bullish sentiment in the coin.
Conclusion: From a technical perspective, the BNB cryptocurrency currently indicates a bullish outlook in its indicators and price action. As mentioned above, the price will soon be facing the $432 resistance level, which holds a great opportunity for these crypto traders. If the coin’s price breaks this overhead resistance level, the next crucial resistance is situated at the $510 mark
Support $384.5
Resistance $432