BNB  Oscillates as It Reaches the $455 Oversold Area

BNB (BNB) Long-Term Analysis: Bearish
BNB’s price reaches bearish exhaustion as it reaches the $455 oversold area. The bulls bought the dips and kept the price above $489. The altcoin is now oscillating above the current support level of $489 but below the moving average lines. Today, BNB is correcting upwards, reaching a high of $528. The upward move will encounter resistance at the 21-day SMA.

On the upside, if the price breaks above the 21-day SMA, the bullish momentum will continue to the high of the 50-day SMA. However, if buyers fail to sustain the price above the moving average lines, BNB will remain range-bound between the $489 support and below the moving average lines.

Technical indicators: 
 Major Resistance Levels – $600, $660, $720
Major Support Levels – $400, $340, $280

BNB (BNB) Indicator Analysis  
The price bars created a price range while remaining below the moving average lines. When the altcoin breaks above the moving averages, it will resume its upward trend. Nonetheless, the bearish trend and range-bound movement will continue as BNB trades below the moving average lines. Doji candlesticks also influence price movement.

What Is the Next Direction for BNB (BNB)? 
BNB has fallen below the moving average lines as it reaches the $455 oversold area. The altcoin is now trading between $460 and $530. The upward trend is meeting an initial resistance at $530. The bullish momentum has hit resistance twice but failed to break through the current high. The crypto signal is ranging as it approaches the oversold region.

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