BNB Price Analysis – April 6
The Binance Coin (BNB) touches a new high as the bears may lose grip over the coin soon.
Resistance levels: $440, $460, $480
Support levels: $320, $300, $280
BNB/USD still remains in a good uptrend after crossing above the upper boundary of the channel. BNB price touches the resistance level of $397 which is the new high since the beginning of this year. The coin keeps consolidating the gains and it has shown a tremendous uptrend in the last few days after crossing above the 9-day and 21-day moving averages
What to Expect from Binance Coin (BNB)
In as much as the red-line of 9-day MA continues to move above the green-line of 21-day MA, the market price may remain on the positive side. Today, looking at the upside, the $440, $460, and $480 levels are significant resistance levels.
On the downside, if the price experiences a break below the 9-day moving average, it could cause a bearish wave within the market and the continuation of the bearish movement towards the 21-day moving average may locate the critical supports at $320, $300, and $280.
At the moment, Binance Coin (BNB) is maintaining the uptrend as the technical indicator RSI (14) is seen crossing into the overbought region, suggesting more bullish signals.
BNB/BTC Market: Bulls Keep the Price to the Upside
Comparing with Bitcoin, the Binance Coin is seen moving up higher as it is making an attempt to cross above the upper boundary of the channel and within a major resistance level of 0.00682 BTC. The fast-moving 9-day MA may continue to make a more bullish cross above the 21-day MA as the market is starting a new trend.
On the upside, if the buyers push the price above 0.0070 BTC, higher resistance could be found at 0.0075 BTC and above. Moreover, should the bulls fail to move it above the aforementioned levels, then, the nearest level of support toward the downside lies at 0.0055 BTC and below. In other words, the technical indicator RSI (14) is moving into the overbought zone, which shows that buyers may continue to dominate the market.