Binance Coin Price Analysis – October 28
After the breaking above the moving averages, the Binance Coin price may continue to rise.
Resistance levels: $550, $570, $590
Support levels: $400, $380, $360
BNB/USD is currently trading at $488 after confirming a daily uptrend and climbing above the 9-day and 21-day moving averages. However, in case the buyers were able to push the price above the resistance level of $530 and the daily candlestick closes above this level, the price may rally towards upper boundary of the channel.
Binance Coin Price Analysis: Binance Coin Keep the Uptrend
Looking at the daily chart, the 9-day moving average is slightly trading above the 21-day moving average and the coin is likewise trading close to the resistance level of $500 which connotes that the buyers are currently gaining upper hand in the market. The technical indicator Relative Strength Index is likely to cross above 60-level with the signal line pointing up to indicate a buy signal.
In the meantime, in case the buyers were able to push the price above the resistance level of $530 and the daily candlestick close above this level, then, the Binance Coin price may rally towards potential resistance levels of $550, $570, and $590 while crossing below the moving averages could hit the supports at $400, $380, and $360 respectively.
BNB/BTC Market: May Face the Upward Movement
When compares with Bitcoin, the coin moves sideways but if the market follows a bullish surge, the price of Binance Coin may swing high to the resistance level of 9000 SAT and above. On the other hand, if the market price crosses below the 9-day and 21-day moving averages, it could reach the support level of 7000 SAT and below.
However, the technical indicator Relative Strength Index (14) is currently moving above 50-level as the signal line points to the north to confirm the bullish movement.