Binance Coin price analysis suggests a move to $230. The nearest support level is at $240.00. BNB is facing resistance at the $250.00 mark. Binance Coin price analysis shows that the BNB price activity has not stopped in any way and the support continues.
The broader cryptocurrency market has seen bearish market sentiment over the past 24 hours as several major cryptocurrencies have recorded negative price movements with little volatility. Major players include HBAR and RUNE, registering a decrease of 5.37% and 3.01% respectively.
Binance Coin Price Analysis: BNB is fighting around $244.00
Indicators for BNB/USDT by Tradingview
MACD is now bearish, as shown by the red color of the histogram. Also, the indicator shows very strong bearish energy, as seen in the shallow depth of the histogram. On the other hand, the light of the indicator shows that the lightning speed is decreasing over time as the price continues to support it around the $244.00 mark. The EMA is currently trading near the mid-point as the net price movement over the past 10 days is still relatively small. In addition, the two EMAs are closing, indicating a slight decrease in each part of the market. At the same time, two EMAs converged suggesting a net inactivity in the market. BNB.
The RSI has been trading in the neutral zone for the past 12 days as price action has seen little change over that period. Currently the index is trading at the level of 45.56 units with a vertical slope. The indicator does not produce a signal for this period as a slight slope indicates low pressure on both sides. The Bollinger Bands have been narrow for the past seven days as price action has seen lower volatility and continues to trade near the $244.00 mark. At the time of press, the bottom line of the indicator provides support at $242.30 while the top line indicates a stop at $247.20.
Technical Analysis for BNB/USDT
Overall, Binance Coin’s 4-hour price analysis gives a bearish signal, with 15 of 26 major technical indicators supporting bears. On the other hand, one of the bullish supporting indicators has had little or no presence in recent hours. At the same time, ten shows are sitting on the fence and not supporting any part of the market.
The RSI has been trading in the neutral zone for the past 12 days as price action has seen little change over that period. Currently the index is trading at the level of 45.56 units with a vertical slope. The indicator does not produce a signal for this period as a slight slope indicates low pressure on both sides. The Bollinger Bands have held strength for the past seven days as the price action sees lower volatility and continues to trade near the $244.00 mark. At the time of press, the bottom line of the indicator provides support at $242.30 while the top line indicates a stop at $247.20.
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Technical analysis for BNB/USDT
Overall, Binance Coin’s 4-hour price analysis gives a bearish signal, with 15 of 26 major technical indicators supporting bears. On the other hand, one of the bullish supporting indicators has had little or no presence in recent hours. At the same time, ten shows are sitting on the fence and not supporting any part of the market.
The RSI has been trading in the neutral zone for the past 12 days as price action has seen little change over that period. Currently the index is trading at the level of 45.56 units with a vertical slope. Indicators do not generate signals for periods where the slope is weak indicating low pressure in both directions. The Bollinger Bands have held strength for the past seven days as the price action sees lower volatility and continues to trade near the $244.00 mark. At the time of press, the bottom line of the indicator provides support at $242.30 while the top line indicates a stop at $247.20.