On the positive side, BNB is expected to revisit its previous highs of $359 and $397 if buyers manage to keep the price over the $300 high. Nonetheless, if it fails to go up, the digital currency would fall into the $260 to $300 range. Today, Binance Crypto exchange Coin retreated over the 21-day line SMA. If the current support holds, BNB will go back up.
Binance Crypto exchange Coin indicator reading
For the 14 period, the Relative Strength Index is at 54. The digital currency is in an uptrend area and could continue to boost. As the price bars are over the moving average lines, the price of the digital currency is likely to boost. The daily stochastic for Binance Crypto exchange Coin is over the level of 80. The positive momentum for the coin has returned and is now overbought.
Major Resistance Levels – $600, $650, $700
Major Support Levels – $300, $250, $200
What is the upcoming direction for BNB?
Binance Crypto exchange Coin is at present in an upward correction and is approaching the high at $300. If the price moves down from the current high, the movement could continue within the range. Nonetheless, the downtrend will continue if BNB falls and breaks the $260 level of support. It is expected that BNB will fall to $195 or $200.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell digital currency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.
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