Home Analysis Binance Coin (BNB) Facing Flat Trading Pattern While Attempting Climb

Binance Coin (BNB) Facing Flat Trading Pattern While Attempting Climb

  • BNB acquired a flat trading pattern and showing signs that it will keep on moving in this pattern.
  • There is a crucial resistance level of $13.00 and $12.80, which put a halt against the climb of the Binance’s prices.
  • The BNB/BTC pair is performing positively with the overall profit of -0.67%, bringing the level 0.00186534.

Binance1

The 7-day weekly chart indicates that prices are unable to maintain a gradual climb.

The BNB price level of $11.20 is key support.  BNB needs to develop a positive divergence as soon a possible but currently if they were not able to maintain a strong support level near $11.50 they won’t be able to keep a gradual rise against the current crucial resistance level.

BNB‘s current market capitalization is $1,917,485,989 USD with volume traded of $ 248,069,691 USD and circulative supply of 155,536,713 BNB.

Binance Coin Price Analysis

Binance2
Source:tradingview

The technical chart indicates that prices are trying their best to climb up, but suffering due to the flat trade. BNB Prices are again at the level of  $12.00. Prices are unable to cross this level as either they get exposed to the flat trend or either they suffer price fall.

The technical indicators and oscillators are showing an increase in the buying volume of the cryptocurrency. This might be a good sign for crypto traders.

MACD levels are showing that both buying and selling volume is moving along after taking a major positive divergence.

RSI takes a  positive divergence from the bearish region to the bullish region of the buying zone, indicating that there is an increase in the buying volume of the altcoin and currently trading above the level of 50.

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.

Resistance level: $12.80
Support level: $11.20

Download our App for getting faster updates at your fingertips.

en badge web generic.b07819ff

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.

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners

Must Read

Utilizing blockchain to screen the COVID-19 vaccine supply chain

Blockchain offers a changeless, decentralized information base that can enable all gatherings to ensure that antibody supplies are being put away and...

Leaked Citibank details Reveals Bitcoin Could Rocket To $300,000 Price By End Of 2021

Bitcoin has detonated in the most recent couple of weeks, adding to increases through 2020 that is seen more than twofold in...

Airbnb plays blockchain popular expression bingo in $ 1B IPO documenting with SEC

Crypto firms are genuinely attempting to restore the gravely hit travel area utilizing conveyed record innovation. The record rolls out an elite of...

The Cryptocurrency Mining Equipment market is skyrocketing

Stratagem Market Insights added an overview of the Cryptocurrency Mining Equipment MarketThe insider report covers various aspectsDifferent methodology to study the competitive...

Bitcoin Cash Under Pressure Slips -0.95% After Split Into Two Blockchains While BCHA Emerges as Positive Performer

Bitcoin Cash builds the Symmetrical triangle pattern, on daily chart faced rejection from the resistance and bounces from the support line  The pair...

What is the Next Move of Ethereum Retracing From Resistance of $495.00?

Ethereum consolidating between the range of $445 to $490 after making a new 52-week high of $492 trading at the mark of...

Related News

Bitcoin Cash Under Pressure Slips -0.95% After Split Into Two Blockchains While BCHA Emerges as Positive Performer

Bitcoin Cash builds the Symmetrical triangle pattern, on daily chart faced rejection from the resistance and bounces from the support line  The pair...

What is the Next Move of Ethereum Retracing From Resistance of $495.00?

Ethereum consolidating between the range of $445 to $490 after making a new 52-week high of $492 trading at the mark of...

Ethereum Enters Critical Resistance Zone With Bullish Move Needs to Show Sustainability

Ethereum is finally into resting the critical resistance zone lying around $480.00 to $490.00 with a weekly gain of 4.00%However, the ETH/BTC...

Is Bitcoin Heading for New All-time High in 2020?

Bitcoin price trading above the price levels of January 2018, after breaking multiple resistance over a yearly chartBitcoin Dominance is currently at...

Will Curve DAO Token Be Able to Have a Bullish Run By Forming Parabolic Curve on Chart?

Curve DAO Token has faced significant price corrections activity from the past couple of months resulting in the price levels to reach...