The price of Binance Coin is at risk of losing the $15 level and losing ground to Bitcoin as BNB falls below this mark. The altcoin news showed BNB losing the daily uptrend weeks ago and not being able to recover.
It was not long ago when Binance Coin was outperforming the entire cryptocurrency market and when every announcement pushed the price of BNB up by 5% or 10%.
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Unfortunately, all of that has changed and BNB could not keep up and eventually had a massive crash.
Now, the price of Binance Coin is at risk and BNB is currently weaker than the rest of the market, for instance, as its daily uptrend has been lost since June 11. Bitcoin and others managed to regain it on June 22.
Not many positive indicators for BNB are visible now besides the 12-EMA and the 26-EMA which crossed bearishly on June 15. Binance Coin is at risk after the MACD had a bear cross and now, the daily RSI is at 38 points but not yet oversold which means that bears can see even more selling in the near future.
The trading volume has been decreasing this month and did that significantly. On the 4-hour chart for BNB/USD, we can again notice a downtrend but also a higher low, which has been formed at $15.57 which means that buyers could change the trend in the near future if they have enough strength.
The next resistance level to beat is $15.84 and the 12-EMA followed by $15.98 and the 26 EMA. The last resistance level, on the other hand, is established at $16.08 which is the 4-hour high for the cryptocurrency.
Right now, the price of Binance Coin (BNB) is in a slight uptrend as it trades by 0.81% upwards. The $2.46 billion market cap and current price of $15.83 are actually giving plenty of positive indicators today. However, losing these levels and going below $15 would mean a lot of trouble for BNB investors.
Besides the Binance Coin news, there are not many notable movements on the market. Most of the coins are stable and without big upsides – only Litecoin (LTC) and its 2.44% increase is what analysts see as impressive by this point of the day.
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