Binance Coin Returns to Its Range-bound Zone as It Floats Above $290
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Binance Coin (BNB) Long-Term Analysis: Bearish
The price of Binance Coin (BNB) has fallen below the moving average lines as it floats above $290. The price change is eerily similar to the prior pricing range, which was $290 to $320. Since the rally that began on February 3 ended, BNB has been compelled into a sideways trend. The value of the crypto asset has been fluctuating between $290 and $320 ever since the price drop on February 13. Binance Coin will resume heading up if the price clears the $320 resistance level and the bullish momentum is sustained. Currently, the altcoin is falling above the $290 support. BNB is probably going to start rising once more.
Binance Coin (BNB) Indicator Analysis
The crypto asset is in the bearish trend zone and trading at level 43 of the Relative Strength Index level for period 14. BNB may drop even more because it is in a region with a bearish trend. The cryptocurrency’s price bars are below the moving average lines, which suggests a likely decline. The altcoin has dipped below the daily Stochastic’s 20% range and is now oversold.
Technical indicators:
Major Resistance Levels – $440, $460, $480
Major Support Levels – $240, $220, $200
What Is the Next Direction for Binance Coin (BNB)?
Binance Coin has dropped and is now trading in a range as it floats above $290. The crypto asset reached bearish weariness when it rises above the $290 support level. The bears are unlikely to breach the current support, given the considerable purchasing pressure.
You can purchase crypto coins here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
