BNB Price Analysis – September 11
Binance Coin BNB has seen a sharp 1.9% price drop over the past 7 days which has brought the price of the cryptocurrency back to $21.
Resistance levels: $25, $27, $29
Support levels: $17, $15, $13
BNB price has continued to drop further lower until it finds support at the expected level of $22. Looking at the daily chart, we can see that BNB/USD even spiked lower into support at $21.30. If the sellers continue to push the market further lower once again, the immediate support below $21 level will be located. Beneath this, further support is then found at $17, $15 and $13.
Alternatively, if the buyers can hold the support at $22 and the price begins to climb higher, the bulls can expect immediate resistance to be located at $23 which is further bolstered by the 21-day MA. Above $23, higher resistance lies at $25, $27 and $29. The RSI is moving below the 40-level, which shows that the sellers are still not ready to give up over the control of the market.
Against Bitcoin, after serious drops, the BNB price has been making attempt to move up higher as it moves towards the 21-day moving average and within a major support area at 0.0021BTC. The long-term moving average is very close to making a bullish cross. Currently, the price is indecisive as it moves in sideways.
From above, if the buyers can push the price above 0.0022BTC, higher resistance lies at 0.0024BTC and 0.0025BTC. Moreover, should the bulls fail to move it above the aforementioned levels, then, the nearest level of support toward the downside lies at 0.0019BTC and 0.0018BTC while the RSI (14) moves in sideways below the level 40, which shows that the sellers still remain in control.
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