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$ 233.64 1.25%

Binance Coin price data analysis: BNB nearly misses $40, can it regain?

bnb price analysis 7july

Binance coin activity has been dormant for the past 30 days. The 7th biggest cryptocurrency on the market saw an over four percent (4.5%) rise in its price in June 2019 and rose up from thirty-three dollars ($33.23) to almost forty dollars ($39.59).

The piece mark then settled to thirty-two dollars ($32.50) and has been keeping a balance in that area. Binance coin has a market cap of over four and a half billion dollars ($4.69B) right now and standing strong at four hundred and sixty percent (460%).

Binance coin has been near thirty-two dollars ($32.45) against the US dollar and so has been the Exponential Moving Average (EMA) for it. Resistance levels for the Binance coin lie at thirty-four dollars ($34.20) and thirty-five dollars ($35) marks.

Binance Coin price data analysis: BNB nearly misses $40, can it regain? 1Binance Coin price chart by Trading View

If the bullish trend continues then, the next resistance levels will be thirty-six ($36.28), thirty-eight dollars ($38) and then to $38.53, and finally to thirty-nine dollars ($39.59).

Above the previous all-time high, thirty-nine dollars ($39.59), the price will be resilient at forty-two dollars mark ($42) and ($42.66), then onto forty-four dollars ($44.04) and finally to forty-six dollars ($46.16).

The support lines for Binance coin (BNB) are at thirty-two dollars ($32.45) and lower at thirty-one dollars ($31.20). Further below, the next level of support lies at thirty-one dollars ($31) and the thirty dollars ($30) marks. Twenty-nine dollars ($29.22) and twenty-seven dollars ($27.91) are the support line to look for below the thirty dollars ($30) mark which contains the 100 days EMA.

Binance Coin price data analysis: BNB nearly misses $40, can it regain? 2

Binance Coin price chart by Trading View

Binance coin hasn’t been able to keep up with Bitcoin (BTC). It has been falling and found support at 0.002756 BTC. Binance coin then rose back up to 0.002756 BTC.

Resistance for Binance Coin/BTC pair lies at 0.0030 BTC and 0.0032 BTC. If the market gets bullish, then resistances are expected at 0.003420 BTC, 0.003556 BTC, 0.003680 BTC, and 0.0040 BTC.

The support for the Binance Coin is at 0.002756 BTC,0.002655 BTC, 0.0026 BTC, 0.0025 BTC, and 0.002265 BTC.

The relative strength Index (RSI) will be giving a green light for the bull market once it breaks above the 50 levels.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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