Altcoins

Binance Coin Price Prediction: BNB Price Looks For $450 Above the Descending Trend line Daily Close

BNB’s worth manages to carry above $400 after the earlier session’s modest losses. BNB worth is consolidating under $420 since testing the highs of $424 on March 1. The bearish slopping line and the 200-EMA act as a double-whammy for the patrons. The value should cross each the degrees with an above-average quantity to proceed with the features.

  • BNB worth trades in a really tight vary on weekends.
  • Count on extra features in direction of $450 above the descending development line.
  • The quick draw back is capped close to the 50-day EMA.

As of writing, BNB/USD is buying and selling at $412.89, with 0.56% for the day. The fourth-largest cryptocurrency by the market cap is holding at $1,418,907,326.

BNB worth consolidates earlier than one other leg up

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Supply: Buying and selling View

On the every day chart, the BNB worth is going through a problem close to the $420 mark as the worth is unable to breach its final time examined highs on March 1. The value has discovered a dependable help stage of round $350. After making document lows in February BNB worth surged 31% to the current swing highs.

Now, a decisive break above the bearish slopping line will meet the primary upside hurdle on the vital 200-EMA at $431. This might be an important base to goal for the following increased stage.

An prolonged shopping for strain will carry the psychological $450 stage into play.

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Quite the opposite, a fall under the 50-day EMA will invalidate the bullish outlook within the asset. In that situation, the BNB worth would revisit the horizontal help stage at $360.

Technical indicators:

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RSI: The every day Relative Energy Index reads at 58 whereas shifting above the typical line. This means the underlying bullish momentum.

MACD: The Shifting Common Convergence Divergence hovers above the midline with a impartial bias.

Buying and selling quantity: The Worth Quantity Development indicator steadies increased from the February lows.

 

 

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