Binance Coin (BNB) rose to its previous peak of $697.
Long-term BNB Price Forecast: Bull
Crypto prices are below $700 in anticipation of an upward trend. However, if the Bulls break through the $700 mark, the BNB will be at a high of $720 and $732 respectively.
However, if BNB cannot break through the moving average line, it could exceed the recent low. On May 27th, Altcoin was rejected on the $700 mark, falling below the moving average line. In the meantime, BNB is rising as it approaches the $700 mark.
Reading BNB Price Indicators
The price bar is well above the horizontal moving average. The 21-day SMA exceeds the 50-day SMA, which is a bullish signal. BNB has been on a mild upward trend during lower periods, exceeding the $674 level. Cryptocurrencies are found in areas where markets have been acquired by over-acquired.
Technical indicators:
Major Resistance Levels – $600, $650, $700
Key Support Levels – $400, $350, $300
What’s the next direction for BNB/USD?
BNB has risen, but is below the $700 level. Doji Candlesticks is formed in over-acquired regions of the market. Doji Candlesticks shows traders’ hesitation about trend direction.
However, there is a risk that BNB will fall if sellers appear in over-market zones. In the meantime, cryptocurrency prices have remained stable, falling below previous highs.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
