BNB coin analysis shows that the coin managed to stay on the uptrend despite the recent decline due to the ban for US customers from the main exchange. The price tested the key resistance support at $30.00 and we read more about it in the coming altcoin news.
The binance coin price declined sharply due to the US customer ban but later recovered above $34.00. There seems to be a crucial bullish trend line forming near the support line at $32.50 on the 2-hour chart. The price still remains in an uptrend and could easily make another attempt and surpass the $35.00 support range.
The major crypto exchange banned all United States customers from their main exchange and this was one of the reasons that led the price to a sharp decline. The exchange later announced a separate exchange for US customers. Although the BNB coin analysis shows a heavy decline, there was a positive movement for both Ethereum, Bitcoin, and Ripple which turned out to help Binance Coin to find the nearest support area at $30.00.
If you take a look at the 2-hour chart of BNB/USD, the pair declined heavily after it failed to clear the $36.50 resistance level after it had previously broken down the $32.00 support area which acted as a strong buying zone. As a result, the price bounced back above the $32.50 and later to $34.00. The BNB price also managed to break the $35.00 support level but it has, however, struggled near the $35.40 area.
On the downside, as reported in the latest cryptocurrency news, there are many support levels near the $33.50 and $32.50 levels. The 50% Fib retracement level of the latest upward move from the $31.60 low to $35.43 high is also close to the $33.50 level and will act as a support with the 25 moving average. Also, there is a crucial bullish trend line that is now forming near the $32.50 on the same chart. Therefore as long as the price remains strong above the $32.50 it will remain in an uptrend. On the upside, the binance coin price resistance level will be near $35.50 which could help revisit the $36.50 area.
Binance Coin (BNB) Price Analysis: More Consecutive Losses
Binance Coin Is Under Correction But May Surge Soon: Analysis
BTC Is Static Below $8,800, NEO And BNB Steal Its Show
“Overall trend is down… Volume is still bearish. It’s certainly a look to hedge short play for me going into the close,” the contributor filbilb stated on his Telegram trading channel this Tuesday.While Bitcoin is changing hands with $8,800 with a 0.77% increase on the day, we can see that Binance Coin (BNB) has surged by 4.22% and is now at a price of $21.20. On the other hand, NEO is also rallying and managed to add 5.66% in the past couple of hours - arriving to a price of $13.Nonetheless, every trader could feel the fatigue as BTC is stuck this Wednesday. The weekly performance shows a 6% loss for the coin despite the remaining 5% which are up overall compared to the same time last month.The altcoin markets triggered the rise of the BNB and NEO altcoins, both of which were breaking out of their sideways pattern and would deliver noticeable moves. Out of the top twenty cryptocurrencies by market cap, NEO (NEO) and Binance Coin (BNB) were the clear winners on the day. Earlier today, their gains were 13% and 6.55%, respectively.Meanwhile, the biggest altcoins Ethereum (ETH) and Ripple (XRP) are still hesitant to rise above 2%. While ETH is at $187 and cannot breach the $190 mark, XRP is at $0.2733 and is finding it hard to go through the $0.2900 region.
BNB Comeback: Binance Coin Trades With a 2.45% Uptick Today
ETH Client Parity Forgets To Include EIP In Urgent Upgrade
Weiss Ratings Slides EOS Down The Ranks Due To Centralization
Korean Government Will Impose Crypto Capital Gains Tax In 2020
Aggregate Crypto Market Cap Is $205BLN, 0.25% Of Global Stock Market
IEO Safety: Are They Better Than Initial Coin Offerings?
Billions Of Bitcoin Moved In Minutes: What Happened?
Enjin Coin SurgeD By 60% After Microsoft Partnership
Deutsche Bank Thinks Crypto Will Replace Fiat Currencies By 2030
Brave Surpassed 10 Million Active Users Per Month: Report
Ethereum Gets New Boost From Accounting Firm Ernst & Young
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
- Litecoin News7 days ago
Grin Developer Suggests A Solution For MimbleWimble Privacy Issue
- Ethereum News6 days ago
Ethereum Breached Key Support Level, Further Losses Still Possible
- Ethereum News7 days ago
Vitalik Buterin Joins Petition To Free Arrested Blockchain Developer
- Litecoin News5 days ago
Litecoin Wash Trading: 93% Of All LTC Traded In One Day
- Ethereum News6 days ago
Stolen ETH From Upbit Is Moving To Unknown Wallets
- Ethereum News5 days ago
ETH Devs Decide To Delay Difficulty Bomb By Increasing Inflation
- Blockchain News6 days ago
SoftBank Launched New SBC Wallet Card Based On Blockchain
- Blockchain News5 days ago
Alibaba And Credits Leading The Chinese Blockchain Market