Binance Coin (BNB) Trading With Potential To Acquire Price Level of $13.00

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • BNB acquired positive divergence and showing strong signs that it can acquire the price level of $13.00.
  • There is a crucial resistance level of $13.50, which put a halt against the climb of the prices.
  • However, BNB/BTC pair is performing negatively with the loss of -3.66% bringing the level 0.00183397.

Binance1

The 7-day weekly chart indicates that prices are climbing up gradually with the strong support of $10.50.

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The price level of $10.50 is the key support BNB needs to maintain but currently if they were not able to maintain a strong support level near $11.00 they won’t be able to maintain a gradual rise and fill fall again like last time against crucial resistance level of $13.50.

Binance coin’s current market capitalization is $1,925,759,679 USD with volume traded of $378,831,974 USD and circulative supply of 155,536,713 BNB.

Binance2
Source:tradingview

The technical chart indicates that prices are trying their best to climb up, as there are many fluctuations in it. After suffering a price fall from the level of $12.43, prices are again gain this level and trying to climb furthermore.

The technical indicators and oscillators are showing an increase in the buying volume of the cryptocurrency.

MACD levels are showing that after a bit fluctuation, buying volume is again the dominating one and trying to maintain a bullish dominance. 

RSI takes a sharp positive divergence from the bottom of the selling region to the bullish region of the buying zone, indicating that there is a heavy increase in the buying volume of the altcoin.

Same goes with the CCI level as prices are gradually rising, from the depth of the overselling region prices took a sharp positive divergence to the top of the normal zone and after trading there, they entered over buying region.

Resistance level: $13.50
Support level: $10.50

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