BNB Price Long Term Prediction: Bearish
After reaching a high of $274 on November 21, Binance coin price fell below the moving average lines. The price has returned above the 50-day simple moving average but remains trapped between the moving average lines. The upward movement is currently encountering resistance at $240. On the negative side, if the altcoin declines and falls below the 50-day SMA, the market will fall further. BNB will then fall to the previous price range between $203 and $223.
In the meantime, the altcoin is still trading between the moving average lines with a high of $235.20.
BNB Indicator Reading
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The price of BNB is falling, but the price bars are still between the moving average lines. The cryptocurrency is expected to oscillate between the moving average lines for a few days. The moving average lines on the 4-hour chart are sloping horizontally, indicating a sideways trend.
Technical Indicators:
Key resistance levels - $300, $350, $400
Key support levels - $200, $150, $100
What is the Next Direction for BNB/USD?
BNB is in a downtrend and could start a sideways movement. If the moving average lines remain unbroken, the cryptocurrency will start a move between these lines. Breaking the 50-day SMA or the 21-day SMA will determine BNB’s next path.
Last week the price of Binance coin entered a sideways trend after the uptrend ended on November 6. Due to the barrier at $256, buyers had made four unsuccessful attempts to resume the current rise, as reported on November 17.
Hot Take: BNB Price Analysis
The BNB coin price has fallen and is currently trapped between moving average lines. It is expected to continue oscillating within this range for a few days. The technical indicators show key resistance levels at $300, $350, and $400, while support levels are at $200, $150, and $100. The next direction for BNB/USD will depend on whether the moving average lines are broken or not. Overall, the long-term prediction for BNB price is bearish.
