BNB/USD Price Touches $372 Low – Cryptovibes.com – Daily Cryptocurrency and FX News
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Binance Coin Price Analysis – January 30
The Binance Coin price may find a halt at $370 as the price is down by 4.19% after opening today’s trade at $389.4.
BNB/USD Market
Key Levels:
Resistance levels: $450, $470, $490
Support levels: $320, $300, $280
BNB/USD price may continue to drop until it finds support at the expected level of $370. More so, the daily chart reveals that the Binance Coin is currently trading below the 9-day moving average. If the bears continue to bring the market further lower, the immediate support level may be located. Beneath the lower boundary of the channel, further support could be found at $320, $300, and $280.
Binance Coin Price Analysis: Binance Coin (BNB) May Drop Below $370
As the daily chart reveals, if the buyers can hold the support at $370 and begins to climb higher, the bulls may expect immediate resistance at $400 which is further above the 9-day and 21-day moving averages. Above this level, higher resistance levels lie at $450, $470, and $490. The technical indicator Relative Strength Index (14) may likely cross into the oversold region if the bears put more pressure, which could indicate that the market may continue the downward movement.
BNB/BTC Market: Price Ready to Drop More
Against BTC, the Binance Coin price remains within the channel, in as much as the price actions keep respecting the channel formation, Binance Coin will remain perpetually under the control of bears. However, the bulls need more strong and consistent resistance to snatch the price from the bear-run.
For now, with the current movement in the daily chart, if the price failed to break above the 9-day moving average, it may likely reach the critical support at 9500 SAT and below. However, if the market breaks above the 9-day moving average and move towards the 21-day moving average, the Binance Coin price may hit the resistance level of 1050 SAT and above, but the technical indicator Relative Strength Index (14) is crossing below 40-level, suggesting bearish movement.
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