Binance Coin (BNB) Bulls Are Emerging After A Major Bearish Dominance

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 slight bullish trading patterns and showing signs that it will keep on moving in this current pattern for the short term.
  • Prices are maintaining an up-surge towards the resistance line of $16.00.
  • The BNB/BTC pair is performing in a well and trading with a gain of 82% bringing the level 0.00220880.

The price level of $15.00 is providing key support. BNB manages to put a halt in negative divergence and currently, it is trying to find some stability and upsurge. Currently, prices managed to maintain a support level near $15.35 and now they are looking stable able to continue their rally up.

The Resistance level of $16.00 is a major challenge as prices always end up becoming weak after climbing up this price line.

BNB’s current market capitalization is $2,401,993,702 USD with volume traded of $ 369,721,707 USD and circulative supply of 155,536,713 BNB.

Binance Coin (BNB) Price Analysis

bnb1
Source:tradingview

The technical chart indicates that prices are trying to climb up after suffering a fall. Bears had a stronghold upon the prices. BNB Prices can reach the resistance level of  $16.00 if the manages their current momentum. Prices were unable to maintain a gradual climb above this level of $16.00 last time.

Technical  are favouring prices as they are turning blue  and showing an increase in the buying volume means price are able to pull off an impressive recovery

MACD levels are showing that selling volume was getting ahead of the buying volume and prices are moving along with bears as a major negative divergence is emerging but bulls manage to put up a halt against this plummet.

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

Same goes with the CCI level as prices are gradually rising, from the bottom of the normal zone, prices took a gradual positive divergence to the neutral point of the normal zone and in the potential to climb up.

Resistance level: $ 16.00

Support level: $15.35

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