BNB's price has been moving sideways since 6 February, when it fell to a low of $574 before recovering to a high of $669.
BNB price long-term prediction: rangingAccording to the price analysis by Coinidol.com, if buyers break through the 21-day SMA barrier, the altcoin could rise to a high of $760 or encounter resistance at the 50-day SMA. If buyers are unable to close above the 21-day SMA, the cryptocurrency is likely to reverse and continue its sideways movement. BNB is currently at $611.
Technical indicators:Resistance Levels – $1,000, $1,050, $1,200
Support Levels – $900, $850, $800
BNB price indicators readingOn the 4-hour chart, the moving average lines are horizontal, with the price bars positioned between them. Price action is dominated by Doji candlesticks.
BNB is in a sideways trend near the $580 support level. Since February 6, BNB has been range-bound, remaining above the $580 support and below the $640 resistance. Doji candlesticks have limited price movement. The cryptocurrency price has fluctuated both below and above the horizontal moving average lines.
Today, buyers pushed the price above the moving averages, but selling pressure has emerged around the $640 level.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
