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Cryptopolitan 2021-09-27 03:36:33

Binance coin price analysis: BNB/USD to break above $160 resistance before midnight

TL;DR Breakdown Binance Coin price analysis is bullish for today.BNB/USD saw another price surge this morning.BNB is set to break past $160. The Binance Coin price is currently bullish, with the market seeing another rapid drop this morning and bulls picking up any further selling pressure. As a result, we anticipate BNB/USD to reverse in the coming days and attempt to recoup some of the losses incurred over the previous few weeks. Binance Coin price movement in the last 24 hours: Binance Coin drops to $320 Today, BNB/USD saw prices drop to $340 before picking up any further downside and bouncing higher in search of more substantial support at $3241 (23.6 percent Fibonacci retracement) before moving lower once more. At the time of writing, Binance Coin is trading at $355.54 after seeing a further 1.20 percent price hike, outperforming the wider market in today’s session. We can see BNB/USD has broken below its 20-day EMA, which would usually indicate bearish momentum will dominate in this period; however, bulls are picking up any selling pressure and pushing prices higher for now. The RSI indicator is producing higher lows which would indicate bullish momentum is in play for now. However, the trading volume has notably decreased further still, indicating lack of interest may impact any short-term recovery. Looking ahead, if prices can continue to climb northward through resistance at $360.00 (Fibonacci retracement, hori...

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