BNB Price Analysis: BNB Token Price Holds Close To The 200-day EMA & Opposes Resistance Trendline

  • The support from the 200-day EMA helps the price against the resistance trendline.
  • The pair of BNB/BTC trades at 0.009464 BTC with an intraday fall of -0.28%.
Source- tradingview

BNB Token is trading below the 50-day EMA. However, it is close to 200 day support and the 20-day EMA. The resistance trendline for descending triangle is driving the price lower.

Bullish attempts to increase BNB token price have been pushed down by the resistance trendline.

Sloping EMAs are a sign of bearishness. The death cross is indicated by the closing of the 200 day EMA at 50 days. A death cross could signal a bearish breakout.

Recent bearish crossovers between 100-day EMA (and 50-day EMA) have increased the underlying bearishness within the price chart.

The BNB token trades at $301.66 with an intraday decline of -1.10% in market cap. Due to ongoing consolidation near the resistance, the intraday trading volume also fell by -2.87%.

The volume to market cap ratio of the token is 0.0236 as the coin ranks at #4 position as id dominates 3.91% of the entri crypto market.

BNB Token Price Below All The Crucial EMAs 

Source- tradingview

BNB tokens have been moving lower and may reach the triangle’s support zone. The increasing bearishness in the chart has lowered the chances of a bullish breakout due to the increased volume.

The resistance trendline is holding the coin price steady, indicating some bullishness in the face of the opposition. Investors should wait for the price action signal to be clear before jumping into speculation-based theories.

The pivot point standard, which is Traditional and Auto, indicates that the BNB token prices could support the $250-$200 range. But, if the bullish tendency starts, there could be opposition at $400 that could push the token prices down.

The 4-hour technical charts reveal that the token prices trade below the critical EMAs. This indicates increased bearishness. Bearishness has also been caused by recent bearish crossovers.

The RSI indicator indicates a bearish trend and a gradual increase in underlying bearishness. The RSI indicator has a slight downward slope, as it lowers.

The ADX indicator is indicative of a sideways tendency.

Conclusion: BNB Token’s price action is at a crucial stage that may soon decide the fate of the trend. Investors must wait for the price action to carry out its role before taking a leap of faith.

Support- $250 and $200

Resistance-$400

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