Binance Coin Fluctuates and Struggles to Stay below the $320 High

Binance Coin (BNB) Long-Term Analysis: Bullish
Binance Coin (BNB) price is in a bullish trend zone and it struggles to stay below the $320 high. The price is being held above the 21-day SMA by buyers. At the time of writing, BNB is currently trading for $317.50. BNB is located between the moving average lines, which has reduced the selling pressure. The altcoin is trying to start moving up again above the 21-day SMA. The altcoin will increase to a previous high of $340 if the 21-day SMA is broken. The price will resume its downward trend if it drops below the 50-day SMA. BNB will go back to its prior low of $280.

Binance Coin (BNB) Indicator Analysis
For period 14, BNB is at level 49 of the Relative Strength Index. As supply and demand are in balance, the price of cryptocurrency has reached its equilibrium level. The location of the price bars between the moving average lines suggests that the cryptocurrency may move in a range. A bullish momentum is also present for the coin above the daily Stochastic level 50.

Technical indicators:
Major Resistance Levels – $440, $460, $480
Major Support Levels – $240, $220, $200

What Is the Next Direction for Binance Coin (BNB)?
The value of the cryptocurrency is moving in a range between the moving average lines and it struggles to stay below the $320 high. To put it another way, BNB is limited to levels between $300 and $320. If the price rises above the 21-day SMA, the market will move in an upward direction. Likewise, if the price drops below the 50-day SMA, the market will start to decline again. Doji candlesticks are currently dominating the crypto’s price.

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