Binance Coin Could Be Set For A Litmus Test, Eyes $280
September 26 2022 - 9:18PM
NEWSBTC
BNB price ranges below 50 and 200 EMA on the daily timeframe.
BNB shows bullish strength on the 4H timeframe as price breaks an
asymmetric triangle. The price could be poised to retest the 1D and
4H resistance of $280. Binance Coin (BNB) price showed
bullish strength in recent weeks, but the price has failed to match
that run against tether (USDT). With the price of Binance Coin
facing resistance to breaking above $337, acting as a tough
resistance area, the price of BNB has maintained a downtrend as the
price broke its bullish structure. (Data from Binance) Related
Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea
Binance Coin (BNB) Price Analysis On The Weekly Chart The price of
BNB has recently declined after bouncing from its weekly low of
$210 as a price rally to a high of $340 before facing a stip
rejection, and the price has struggled to re-establish its bullish
trend. The price of BNB is still above a critical support level of
$270, which acts as a good demand zone for buy orders. The price of
BNB must break through its weekly resistance of $280 in order to
trend higher. To restore a relief bounce, the price of BNB must
break and hold above the $280 resistance, which is preventing the
price of BNB from trending higher. If the price of BNB continues to
reject $280, we may see a retest of $270 and possibly a lower
support area of $210 on the weekly chart. If the price of BNB
breaks and holds above $340, this could start a major rally as this
has proven to be a tough area to break out for BNB price. Weekly
resistance for the price of BNB – $340. Weekly support for the
price of BNB – $270. Price Analysis Of BNB On The Four-hourly (4H)
Chart The price of BNB continues to show strength in the 4H
timeframe, breaking out of its downtrend range after forming an
asymmetric triangle with good volume. The price of BNB is $278,
which is higher than the 50 EMA but lower than the 200 EMA. The 50
EMA acts as a support for the BNB price, while the 200 EMA acts as
resistance. Prices at the 50 and 200 EMA for BNB are $274 and $280,
respectively. Four-Hourly resistance for the BNB price – $280.
Four-Hourly support for the BNB price – $274-$250. Onchain Analysis
Of BNB The price of BNB from the on-chain analysis looks more
decent, producing a reasonable return on investment (ROI) compared
to other crypto assets that have struggled for the past three
months. With backing from investors and partnerships, the price of
BNB could do well. Related Reading: XRP Price Stumbles Near $0.47,
What’s Next With Selling Pressure Building? Featured Image From
zipmex, Charts From Tradingview and Messari
Terra (COIN:LUNAUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Terra (COIN:LUNAUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024