Binance Coin in a Bullish Run, Reaches an Overbought Region at $400

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Binance Coin (BNB) Long-Term Analysis: Bullish
Binance Coin’s (BNB) price is in an upward move as reaches an overbought region at $400. If the current bullish momentum extends above the 50-day line moving average, BNB will be out of downward correction. Buyers are trying to revisit the previous resistance level of $440. The resistance at $440 has been a hindrance to the upward movement of the cryptocurrency. BNB will rally above the moving averages if the resistance at $440 is breached.

Binance Coin (BNB) Indicator Analysis
BNB/USD has risen to level 50 of the Relative Strength Index period 14. This indicates that there is a balance between supply and demand. The crypto’s price is above the 21-day line SMA but below the 50-day line SMA indicating a possible range bound move of the coin. The bullish momentum will continue once it breaks above the 50-day line SMA. BNB is above the 80% range of the daily stochastic. Binance Coin has reached the overbought region. The current uptrend may reach bullish exhaustion.

Technical indicators:
Major Resistance Levels – $640, $660, $680
Major Support Levels – $540, $520, $500

What Is the Next Direction for Binance Coin (BNB)?
On the 4 hour chart, Binance Coin is in an upward move as it reaches an overbought region at $400. The crypto’s price has broken above the moving averages. Meanwhile on February 26 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that BNB will rise to level 2.0 Fibonacci extension or $444.80.

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