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Binance Coin price analysis: BNB/USD is bearish for the next 24 hours

Binance coin price analysis

TL;DR Breakdown

  • Binance Coin price analysis for today is bearish for today.
  • The BNB/USD current price is $354.
  • The MACD indicator is also following the downtrend, which implies that bears are currently in charge.

Binance Coin price analysis: General price overview

Today’s Binance Coin price analysis is bearish, and the BNB/USDT price has dropped by 2%. The price is currently resting at $368, with resistance located at $572. The price rose from $344.4 to $382.9 yesterday, resulting in a 10% increase. Due to its high return potential, many investors, DeFi projects, and staking incentives have focused on the Binance coin.

With the high price fluctuation that we’ve seen recently, many people are looking at the current Bitcoin and alternative coin prices. According to some investors, Bitcoin is presently valued at $43K, who consider that a rebound from $40.5K marks a bullish trend. If you want to understand the BNB/USD price movement correctly, you must pay attention to its price movements.

Binance Coin has been trading in a bearish trend since the bulls could not keep the price above $370. BNB’s market capitalization has risen by 3.50 percent, according to Coinmarketcap. Trading volume was 14.38% lower than yesterday, as well. Today’s Binance Coin price analysis will examine important technical indicators to make accurate future price predictions.

Binance Coin four-hour price analysis: Bearish signals

The Binance Coin price analysis is bearish today, as revealed by the 4-hour price charts below. If the trend continues, Bitcoin may fall from the support at $368, increasing the bearish trend. We’ll look at Binance Coin’s important Moving Averages and how they’re positioned on the 4-hour timeframes in greater detail later in our analysis.

Binance Coin four-hour price analysis reveals that the Moving Averages are sloping downwards. The CMF shows a bearish trend in its signal line, too.

The BNB/USD price is trading below its essential Moving Averages, with 4-hour EMA at $370, and the 50-period MA is well above the 200 period MA at $369. This suggests that there’s not much potential for Binance Coin to rise in today’s price prediction.

The MACD indicator is also following the downtrend, which implies that bears are currently in charge.

Binance Coin price analysis: BNB/USD is bearish for the next 24 hours 14-hour chart by TradingView

Binance Coin price analysis: Conclusion

The Binance Coin price analysis for today is bearish. If the current trend continues, Bitcoin may fall from the support at $351. Today’s price analysis reveals bearish signals. If the current trend continues, Binance may fall below the $351 support.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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