BNB/USD Resumes Upward as Price Hits $440 – Cryptovibes.com – Daily Cryptocurrency and FX News
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Binance Coin Price Analysis – March 30
The Binance Coin price begins a progressive movement as the price increases tremendously before dropping slightly.
BNB/USD Market
Key Levels:
Resistance levels: $500, $520, $540
Support levels: $360, $340, $320
BNB/USD bulls have been attempting to move to cross the upper boundary of the channel. The $425 support level is the critical support where the price touched today. Meanwhile, the Binance Coin price may continue to consolidate around this level before making an upward movement and this makes the support level a strong support zone.
Binance Coin Price Analysis: Can Binance Coin Maintain the Upside?
The Binance price is likely to rise more if the bulls could defend the $430 level; the coin may continue its upward movement by breaking above the upper boundary of the channel. Therefore, any further bullish movement may take the coin to the potential resistance levels of $500, $520, and $540.
However, as revealed by the daily chart, the current analysis may be invalidated should the bears break below the 9-day and 21-day moving averages, and the Binance Coin price may fall to the low of $360, $340, and $320 support levels. More so, the technical indicator Relative Strength Index (14) is likely to cross into the overbought region; suggesting more bullish movements.
BNB/BTC Market: May Cross above the Moving Averages
When compared with Bitcoin, the Binance coin price is currently trading below the 9-day and 21-day moving averages. However, the red line of the 9-day moving average may need to make a bullish cross above the green line of the 21-day moving average to touch the nearest resistance of 0.0095 BTC.
Therefore, if the buyers could push the price above the mentioned resistance, higher resistance lies at 0.010 BTC and above. Moreover, should the bulls fail to move it upward, then, the nearest support level could be located at 0.0084 SAT and below. More so, the technical indicator Relative Strength Index (14) moves to cross above 50-level, which indicates that buyers may dominate the market.
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