Home
News
- BNB price action bounced back from $320 to $556 on Monday’s trading session
- The 24-hour volume in BNB is at $11,482,405,554 with a 145.91% increase
- The BNB/BTC pair was trading at 0.009828 BTC with a gain of 24.35%
The 4-hour technical chart of BNB price action forecasts a positive trend. According to pivot points, BNB’s critical support level is placed at $456.90. Whereas if it moves up, the key resistance level to watch is $640. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern representing bullish reversal with high reliability.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) is above EMA-13 (green), which projects a positive trend. The price is sustaining above 8-EMA. Investors may perceive positive crossover in the EMA, and the price will also follow the positive trend.
RSI indicator (OVERBOUGHT), with a value of 87.14, indicates an overbought situation in the coin. Moreover, Investors can see an upward slope from 66 to 87 in the index, and it may surge in future trading sessions.
The volume of (3.75M) represents an enormous buying volume which is above the Volume MA (890.55K) of 20-days. High buying pressure is maintained in BNB to drive its price to higher levels.
Enormous Buying Volume In BNB
BNB price traded at $589 with a gain of 26% in the last 24-hour and 63.87% up in the weekly time-frame. Furthermore, BNB bounced back from the support of $456.90. In contrast, the market capitalization stands at $91 billion. Technically, investors can perceive a positive crossover in EMA, and the price is above the 8-EMA. RSI index showcases an upward slope. Moreover, the price movement can exceed the resistance of $640 in future trading sessions.
Resistance: $640.0
Support: $456.90
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
