BNB's price has slipped below the moving average lines but remains above the 21-day SMA support after being caught between the moving averages.
BNB Price Long-Term Prediction: BearishIf the 21-day SMA support is breached, selling pressure will continue to $600 or lower. If the 21-day SMA support holds, BNB will remain within the moving averages. Buyers were unable to sustain bullish momentum after the altcoin was rejected twice at highs of $653 and $640.
Technical indicators:Resistance Levels – $1,000, $1,050, $1,200
Support Levels – $900, $850, $800
BNB Indicator ReadingThe 21-day SMA support remains steady as buyers attempt to push the price above the moving average lines. On the 4-hour chart, the price bars are below the horizontal moving average lines. Buyers are attempting to push prices above the moving average lines. BNB will resume its bullish ascent once buyers sustain bullish momentum above the moving average lines.
The BNB price has recovered after finding support above the $620 low and breaking above the 21-day SMA level. On the 4-hour chart, the price bars are above the 21-day SMA support but below the 50-day SMA barrier.
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.
