Binance Coin (BNB) Bulls Finally Came Out Against The Bears At $15.20

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 a complete bearish trading pattern and showing signs that it will keep on moving in this current pattern.
  • Prices ended there up-surge in a very drastic note after completely blown away by crucial resistance level of $15.20 a
  • The BNB/BTC pair is not performing in a good condition and suffering an overall loss of -7.38% bringing the level 0.00201684.

The price level of $13.80 is providing key support. BNB manages to put a halt in negative divergence and currently it is trying to find some stability. Currently, prices managed to maintain a support level near $13.90 too and now they can continue their rally up.

Binance Coin‘s current market capitalization is $2,169,552,733 USD with volume traded of $ 411,754,864 USD and circulative supply of 155,536,713 BNB.

The technical chart indicates that prices are trying to climb up after taking a massive fall. Bears are looking strong this time. Prices are about to reach the resistance level of $15.20 but instead they collapse with a major plummet in them. Prices were unable to maintain a gradual climb above this level.

BNB Price Analysis

bnb
Source:tradingview

Technical are completely opposing prices as they are turning red and showing an increase in the selling volume means the price won’t be able to pull off an impressive recovery. 

MACD levels are showing that selling volume is getting ahead of the buying volume and prices are moving along with bears as a major negative divergence is emerging.

RSI takes a negative divergence from the bearish region towards the bottom of the selling zone, indicating that there is an increase in the selling volume of the altcoin and currently trading below the level of 40. 

Same goes with the CCI level as prices are gradually falling, from the top of the normal zone, prices took a gradual negative divergence to the lowest limit possible of the over selling zone and in the potential to enter the normal zone. 

Resistance level: $ 14.00
Support level: $13.50

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