TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	86,255,265,300	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

86,255,265,300

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-13.81	-2.46%	547.13	547.02	548.68

Price Change

Price Change %

Current Price

Bid Price

Offer

-13.81

-2.46%

547.13

547.02

548.68

High Price	Low Price	Open Price	Prev. Close	52 Week Range
563.40	543.08	560.95	560.95	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

563.40

543.08

560.95

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	03:59:36	0.049000	547.13	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

03:59:36

0.049000

547.13

USD

Price x Volume	Volume	Base Symbol	Related Pairs
6,430,037.73	11,722.21	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

6,430,037.73

11,722.21

TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout

10/08/2022 6:40pm

NEWSBTC

The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins. Related Reading: MANA Bulls May Outsmart The Bears If They Stick To These Support Lines Bitcoin’s (BTC) price saw a pullback from $24,200 to $22,800 despite showing signs of a relief rally but was faced with resistance to breakout. Despite the shake-out, the price of the Binance coin remained strong. (Data feeds from Binance) Price Analysis Of BNB On The Weekly Chart From the chart, the price of BNB saw a weekly low of around $210, which bounced from that area and rallied to a price of $330. The price has built more momentum as it faces resistance at $336. If the price of BMB on the weekly chart continues with this bullish structure, it could quickly revisit $450. Weekly resistance for the price of BNB – $336. Weekly support for the price of BNB – $300, 210. Price Analysis Of BNB On The Daily (1D) Chart The price of BNB found strong support at around $270, with what seems to be an area of interest on the daily chart. BNB bounced from its support, forming a trendline as it faces resistance to break above $336. At the point of writing, the price of BNB is at $333, trying to break the resistance at the $336 area. If the price of BNB breaks above the $336 resistance with good volume the price of BNB could rally to a high of $450. The trendline formed by BNB acts as the support and area of interest for subsequent buy bids. A break of this trendline below invalidates the setup. With more buy bids, and the positive CPI announcement we could see the price of BNB trending higher. The RSI for the price of BNB on the daily chart is above 70, indicating healthy buy bids for BNB. The volume for BNB indicates buy bids, this shows bulls would want to push the price higher. Daily (1D) resistance for BNB price – $336. Daily (1D) support for BNB price – $270, $220. Price Analysis OF BNB On The Four-Hourly (4H) Chart The price of BNB has continued to maintain its bullish structure despite retracing to its trendline support on the 4H chart, as the price faces resistance at $336. BNB price is $333, trading above the 50 and 200 EMA with prices of $310 and $280 on the 4H chart. These prices would act as support areas for BNB on the 4H chart. Four Hourly (4H) resistance for BNB price – $336. Four hourly (4h) support for BNB price – $310, $280. With the positive CPI news, the price of BNB could break the resistance and would trend higher. Related Reading: TA: Bitcoin Price Takes Hit, Why BTC Remains at Risk of More Losses Featured image from Bitnovo, Charts from TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BNBUSD Binance Coin