BNB Price Analysis – April 25
BNB/USD is moving towards a bullish path and later breaks above the moving averages.
Resistance levels: $19, $21, $23
Support levels: $13, $11, $9
BNB/USD price is now trading close to $16.5 after touching $16.73 resistance in the early hour of today. The price of Binance Coin may continue to follow the uptrend if the price continues to move towards the upper boundary of the channel. Meanwhile, Binance Coin may close the week on a better note as the price could still touch the resistance level of $18. But the current performance of BNB/USD is progressive and gives room for more investments.
However, BNB/USD trading pair has maintained an uptrend from the lows traded in the middle of last month around $9.41. In other words, as the technical indicator MACD signal lines move within the positive side, there is a higher chance that BNB may likely hit the nearest resistance at $19, $21 and $23 but the downside may be visited at $13, $11 and $9 support levels.
When compared with BTC, after serious drops, the BNB price has been making an attempt to move up higher as it is about moving above the 21-day MA and hovering at 0.00214 BTC. The long-term moving average may likely make a bullish cross but currently, the market is following the upward trend.
From above, if the buyers can push the price above 0.00220 BTC, higher resistance lies at 0.00230 BTC and 0.00240 BTC. More so, should the bulls fail to move it above the aforementioned levels, then, the nearest level of support toward the downside lies at 0.00199 BTC and 0.00198 BTC as the RSI (14) moves above 50-level, which shows that more bullish signals may play out.
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