Binance Coin price has hit the $21 mark twice in the last seven days; however, it seems that the bulls will push the price towards the $32 level if more buyers emerge.
On October 26, the price of Binance Coin (BNB) traded at the $19 level and continued upward. On October 28, the bulls pushed the price to hit the $21 level but they were resisted. As a result, Binance Coin price corrected down to the $20 support level.
On the downside, if the price continues its fall, the market will revisit the lows of $19 and $16 price levels. On the upside, if the more buyers emerge, the crypto’s price will rise towards the $23 and $32 price levels. Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, the BNB price is in a bullish trend. The 20-day Exponential Moving Average (EMA) is sloping up gradually, which shows that the bulls are in control of the market. The pair will pick up momentum above $21 level. Conversely, if the price of BNBUSD enters the slope downwards, traders can hold their long positions with a stop loss of $16.
Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal.
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