Binance Coin (BNB) Struggling To Maintain Its Presence Above The Level $12 

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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.

Binance Coin(BNB)  Struggling To Maintain Its Presence Above The Level $12 

  • BNB again acquired negative divergence and showing strong signs that it can again break the price level of $12.00.
  • There is a crucial resistance level of $12.50, which is not allowing the prices to climb up.
  • BNB/BTC pair is performing negative with the loss of -0.73% bringing the level 0.00192322.

BNB prices are unable to maintain a gradual climb above the price level of $12.00, reflecting the heavy bearish resistance

The price level of $11.20 is working as the key support BNB needs to maintain its rally up but currently if they were not able to maintain strong sustainability on the level of  $12.00 they won’t be able to maintain a gradual rise and will keep on suffering volatility.

BNB’s current market capitalization is $1,893,498,312 USD with volume traded of $259,574,410 USD and circulative supply of 155,536,713 BNB.

BNB
Source:tradingview

The technical chart indicates that prices are trying their best to maintain stability up above its current level but it is prone to the market factors, as there are many fluctuations in it.

The technical indicators and oscillators are showing an increase in the buying volume of the cryptocurrency. Bears are emerging with a strong presence in the market.

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

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

Same goes with the CCI level as prices are gradually rising, from the overselling region prices took a sharp positive divergence to the middle of the normal zone and currently trading there with slight negative divergence in them.

Resistance level: $12.50
Support level: $11.20

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