Binance Coin price is now trading between the levels of $30 and $40. BNBUSD traders can be on the lookout to buy setups in order to initiate long orders.
Binance Coin Price Technical Analysis
Binance (BNB) Coin price was in a bearish trend yesterday July 17. The bears broke the 12 and 26-day Exponential Moving Averages (EMA) as the BNB price tests or break the lower price range. Both EMAs are sloping horizontally, which is an indication that the price of Binance Coin is in a sideways trend. BNB price is trading between the levels of $30 and $40.
On the downside, if the bears break the lower price range or the $30 price level, Binance Coin price will further decline to the previous low of $24 level. On the upside, if the bulls defended the $30 price level, the price will continue its range bound movement within the confined level. However, Binance Coin price is at the oversold region of the daily stochastic while below the 40% range. This suggests that the price of BNB is in the bearish momentum and a sell signal.
BNBUSD Price Short-term Analysis
Looking at the 1-hour chart, BNBUSD price was in a bearish trend. The 12 and 26-day EMAs are sloping southward. Today, BNBUSD price is oscillating below the EMAs, which is an indication that the price of BNB is likely to decline. The price is trading at the overbought region of the daily stochastic while above the 20% range, indicating that BNBUSD price is in a bullish momentum and a buy signal.
- Resistance Levels: $36, $37¸ $38
- Support levels: $30, $29, $28
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.