Binance Coin price analysis 12 August 2019; struggling at the $30 resistance

The $30 has been the BNB’s target for more than 7 days now as it has been inching its way towards the resistance level.

When conducting this Binance Coin price analysis, it also became clear that the 100 days EMA has been crossed and the coin is well on its way to breaking the resistance and finding new heights in the future.

The growth of BNB is also facilitated by the developing plans of Binance US exchange, which has been coming along for nearly a month now.

However, an influx of new US traders may not be enough to bear the weight of a BTC dominated market which is yet to show its claws.

Binance Coin price analysis

BNB chart by Trading View

Our Binance Coin price analysis shows that the coin can still retain a support level at $28, and it’s extremely unlikely that something could push it below this price point.

The only thing capable of that would be a BTC surge in the next few days, which is barely anticipated by analysist.

At the moment, the BNB is looking quite bullish for the $35 psychological level, but it still needs to push past the $32 bull trap which could revert it back to $29.

The RSI is above the 50 levels though, which indicates a nearly guaranteed bullish push this week.