BNB Halts Above $208 As It Makes Positive Moves
The post BNB Halts Above $208 As It Makes Positive Moves appeared on BitcoinEthereumNews.com. Oct 20, 2023 at 08:30 // Price Binance coin (BNB) price has retreated below the moving average lines after being rejected from the previous high. Binance coin price analysis by Coinidol.com. BNB Price Long Term Forecast: Bearish The decline has stalled after BNB hit a low of $208. The altcoin is trading at $210.50 at the time of writing. The rejections have been occurring since the price dropped on August 17. After each rejection, a candle with a long wick appears pointing up. This indicates that BNB is under heavy selling pressure at higher price levels. For example, resistance at $220 limits the upside. On the downside, BNB has remained above the $200 level. Long downward candlestick tails indicate significant buying pressure at lower price levels. Currently, BNB’s price range is limited to $200 to $213. Technical Indicators: Key resistance levels – $300, $350, $400 Key support levels – $200, $150, $100 Binance Coin Indicator Display After the recent price decline, the BNB price bars are below the moving average lines. This indicates a further decline in the cryptocurrency value. The market has reached the oversold zone in this situation. On the 4-hour chart, the BNB price is between the moving average lines. This explains why the altcoin is expected to trend sideways for a few days. What is the next direction for BNB/USD? Binance Coin will move sideways again if it stays above the $208 support level. BNB is likely to fluctuate in the lower time frame as it is trapped between the moving average lines. However, the price indication predicts a further decline to a low of $203. On the downside, selling pressure will resume if the bears break the $208 support. On October 12, Coinidol.com reported that BNB prices have remained stable as selling pressure has reached…
The post BNB Halts Above $208 As It Makes Positive Moves appeared on BitcoinEthereumNews.com.
Oct 20, 2023 at 08:30 // Price Binance coin (BNB) price has retreated below the moving average lines after being rejected from the previous high. Binance coin price analysis by Coinidol.com. BNB Price Long Term Forecast: Bearish The decline has stalled after BNB hit a low of $208. The altcoin is trading at $210.50 at the time of writing. The rejections have been occurring since the price dropped on August 17. After each rejection, a candle with a long wick appears pointing up. This indicates that BNB is under heavy selling pressure at higher price levels. For example, resistance at $220 limits the upside. On the downside, BNB has remained above the $200 level. Long downward candlestick tails indicate significant buying pressure at lower price levels. Currently, BNB’s price range is limited to $200 to $213. Technical Indicators: Key resistance levels – $300, $350, $400 Key support levels – $200, $150, $100 Binance Coin Indicator Display After the recent price decline, the BNB price bars are below the moving average lines. This indicates a further decline in the cryptocurrency value. The market has reached the oversold zone in this situation. On the 4-hour chart, the BNB price is between the moving average lines. This explains why the altcoin is expected to trend sideways for a few days. What is the next direction for BNB/USD? Binance Coin will move sideways again if it stays above the $208 support level. BNB is likely to fluctuate in the lower time frame as it is trapped between the moving average lines. However, the price indication predicts a further decline to a low of $203. On the downside, selling pressure will resume if the bears break the $208 support. On October 12, Coinidol.com reported that BNB prices have remained stable as selling pressure has reached…
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