Binance Coin Worth Evaluation: BNB Coin Tries To Maintain Above $ 470 – Cryptocurrency Information – The Market Periodical

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  • The RSI indicates a slight bearish deviation from the price of the BNB coin
  • The BNB / BTC pair traded at 0.001013 BTC with a loss of 1.83%.
  • The 24-hour trading volume in BNB is $ 2.89 billion.

Source – BNB / USD on Tradingview

On August 23rd, the BNB coin price gave a decisive breakout of the $ 470 resistance level and offered BNB traders a new opportunity. However, the price is still trying to hold above the broken resistance of the past three days and is looking for valid support at its level. So if the price manages to stay above the $ 470 mark, the BNB can make an excellent long trade.

In terms of the EMAs, the BNB coin is trading higher than the 20, 50, 100 and 200 EMA, indicating a bullish trend.

The RSI (BULLISH) is the current value 66, which indicates a bullish momentum in the BNB coin. However, the RSI line shows a slight bearish divergence from price action.

The BNB crypto chart in the 4 hour timeframe

The BNB coin has shown a remarkable rally on its technical chart, with minor retracement on its way; therefore, the price seems poised for another pullback that can be expected up to the upcoming ascending trendline. In addition, the 4 hour timeframe also indicates a double top patterning with a clipping at the $ 470 mark. Thus, this pattern can give BNB traders a quick short entry.

the moving average convergence / divergence (MACD) indicator (BULLISH) shows a strong sell in the price of the coin as both the MACD and the signal line slowly rise towards the neutral zone after a bearish crossover. However, until these lines are above the neutral zone, the overall momentum is bullish.

Diploma: From a technical point of view, the BNB coin is at a crucial support level of $ 470. And as mentioned above, the price is moving in a strong uptrend that is currently assuming a pullback phase. For the BNB investors, the rising trendline and the $ 437 mark will therefore be crucial levels of support in order to maintain the uptrend.

Support: $ 470

Resistance: $ 533


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