BNB/USD Draws Short-Term Bullish Sentiment at $405 – Cryptovibes.com – Daily Cryptocurrency and FX News
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BNB Price Analysis – February 18
The Binance coin is likely to climb above the 9-day moving average to follow the upward trend as the price mounted up by 0.57%.
BNB/USD Market
Key Levels:
Resistance levels: $455, $475, $495
Support levels: $355, $335, $315
At the time of writing, BNB/USD is currently changing hands around $405.6. Today’s trading begins with a slight uptrend in the market as the coin moves to touch the daily high of $411.3 after which it is currently trading below the daily high. However, traders are anticipating that the current price movement is an indication of the upcoming price rally in the market.
Binance Coin Price Analysis: What to Expect from Binance Coin
According to the daily chart, the next step for the Binance Coin may be to cross above the 9-day moving average. Once this is done, bulls may now push the coin above the upper boundary of the channel to face the resistance levels at $455, $475, and $495 respectively.
However, as the technical Indicator Relative Strength Index (14) moves below 50-level, should in case BNB/USD move to the north, it can manage to sustain the bullish movement towards the $420 and $440 resistance levels. Meanwhile, if the price decides to make a quick turn to the south, the support levels are located at $55, $35, and $15 respectively.
BNB/BTC Market: Binance Coin Ready to Cross into the Upside
Against Bitcoin, the Binance coin is crossing above 9-day and 21-day moving averages as the coin trades toward the upper boundary of the channel. At the moment, bulls are to push the coin towards the positive side as the technical Indicator Relative Strength Index (14) moves above 50-level.
However, if the bears drag the price below the moving averages, BNB/BTC may fall to the support level of 0.0090 BTC and below. Meanwhile, the continuation of the bullish movement may keep the price above the moving averages, and staying there may cause the coin to hit the resistance level of 0.011 BTC and above.
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