BNB Price Analysis – September 14
Binance Coin (BNB) price may find a halt at $28 as the price is down by 1.39% over the last 24 hours.
Resistance levels: $36, $37, $38
Support levels: $26, $25, $24
BNB/USD price has continued to drop further lower until it finds support at the expected level of $28. More so, the daily chart reveals that BNB/USD even spiked lower into support at $28.88 before moving back to $30.72. If the bears continue to push the market further lower once again, the immediate support below the $27 level may be located. Beneath this, further support is then found at $26, $25, and $25.
Would Binance Coin Go Up or Down?
If the buyers can hold the support at $30 and the price begins to climb higher, the bulls may expect immediate resistance to be located at $35 which is further bolstered by the upper boundary of the channel. Above this barrier, higher resistance lies at $26, $25, and $24. The RSI (14) is moving within the overbought zone, which shows that the market may begin a downward movement.
BNB/BTC Market: Bulls Flexing Muscles to the Upside
Compared with Bitcoin, the Binance coin remains at the upside above the 9-day and 21-day moving averages touching the daily high at 0.00316 BTC. Meanwhile, the long-term moving average may likely make a bearish cross as the market may be starting a new trend by moving below the upper boundary channel.
From above, if the buyers could push the price above 0.0032 BTC, higher resistance lies at 0.0034 BTC and 0.0035 BTC. Nevertheless, should the bulls fail to hold the upside, then, BNB/BNB may start coming down as the technical indicator RSI (14) prepares to leave the overbought region. Any further bearish movement may bring the price towards the supports at 0.0026 BTC and 0.0025 BTC respectively.