Binance Coin price is showing a few bearish signs as it consolidates below the key $21.00 and $21.20 resistance levels.
Binance Coin Price Medium-term Analysis
Yesterday November 6, the price of Binance Coin (BNB) was ranging above the $20.00 and $20.20 support levels. At the time of writing, Binance Coin price is facing
On the upside, if more buyers emerge, the coin will face resistance at the $21.00 level. Above this level, the market could rise towards the $22.00 price zone. On the downside, if the price falls, the market will find support at the $19 and $18 price levels.
In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
BNBUSD Price Short-term Analysis
On the 1-hour chart, BNBUSD price is in a bearish trend. The pair is currently facing a lot of hurdles near the $21.00 and $21.20 levels, above which it could rise towards the $22.00 zone. On the downside, the main supports are near the $20.00 and $20.20 levels.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance Levels: $21, $22¸ $23
- Support levels: $20, $19, $18
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
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