TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	92,907,980,462	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-4.86	-0.82%	587.68	587.56	587.62

High Price	Low Price	Open Price	Prev. Close	52 Week Range
603.24	585.80	592.54	592.54	210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	10:20:56	0.021000	587.68	USD

Price x Volume	Volume	Base Symbol	Related Pairs
15,268,384.68	26,186.74	BNB	BNBEUR	BNBGBP	BNBBTC

TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

18/08/2022 8:34pm

NEWSBTC

The price of Binance Coin (BNB) has struggled to break above $337 against Tether (USDT) after being rejected from that region. Binance Coin price in the past few weeks outperformed the price of Bitcoin (BTC) but has not been able to match the strength it has shown earlier to break above this resistance and trend higher. Related Reading: Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone Binance Coin (BNB) Price Analysis On The Weekly Chart From the chart, the price of BNB saw a weekly low of $209, which bounced from that area and rallied to a price of $337 after showing great recovery signs in recent weeks. BNB’s weekly candle closed with a bullish sentiment with the new week’s candle looking bearish for the price of BNB as it continued to decline in price to a region of $303 after facing rejection from the $337 mark. The price has struggled to build more momentum as it tries to hold key support. If the price of BNB on the weekly chart continues with this structure, it could quickly revisit $290 acting as a support for the price of BNB. Weekly resistance for the price of BNB – $337. Weekly support for the price of BNB – $290. Price Analysis Of BNB On The Daily (1D) Chart The price of BNB found strong support at $280 above a trendline after successfully forming a bullish structure, the support at $280 seems to be an area of interest on the daily chart. BNB bounced from its support and rallied to $337 where it was faced with resistance and was rejected from that region. The price of BNB has continued to be above a trendline acting as support after being rejected from the $337 mark. At the point of writing, the price of BNB is at $303, above the 50 Exponential Moving Average (EMA) which corresponds to $290. BNB needs to hold above this support area that corresponds with the 50 EMA, a break below this region could send the price of BNB to $240. The Relative Strength Index (RSI) for the price of BNB on the daily chart is above 50. Daily (1D) resistance for BNB price – $337. Daily (1D) support for BNB price – $290. Price Analysis OF BNB On The Four-Hourly (4H) Chart The price of BNB continues to look bullish and holds above the 200 EMA price corresponding to $295 after breaking below the 50 EMA. On the 4H timeframe, the 200 EMA is acting as a support for the price of BNB. If BNB fails to hold the support region we could see the price retesting the region of $250 as the next support area to hold the BNB price. Four-Hourly (4H) resistance for BNB price – $337. Four-Hourly (4H) support for BNB price – $290. Related Reading: Why Bitcoin Is Cheap At $23,000, Says Fidelity Expert Featured image from zipmex, Charts from TradingView.com

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1 Year Binance Coin Chart

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1 Month Binance Coin Chart

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