Binance Coin Price Prediction – October 27
A buying spree in the BNB/USD market operations has increased as the crypto-economic market hikes toward the $300 trading line. The trading spots have kept within the pace of high and low-value lines of $292.10 and $284.30 at a 2.53 percent rate positive.
Binance Coin Market
Resistance levels: $300, $320, $340
Support levels: $260, $250, $240
BNB /USD – Daily Chart
The daily chart pictures the BNB/USD trade activity hikes toward the $300 resistance level over the trend lines of the SMAs. The 14-day SMA indicator is at $277.00, beneath the $282.40 value point of the 50-day SMA indicator. The horizontal line drew at ta strategic support level of $260. The Stochastic Oscillators have moved into the overbought region to the points of 87.31 and 93.25. And they are now trying to close their lines around those range values to signify the possibility of resuming a downward trend in the bear time.
Will the BNB/USD market soon lose its traction at the $300 resistance?
Even though the price of bitcoin is currently climbing toward the $300 resistance, the BNB/USD market operation risks losing momentum due to the recent wave of technical trading techniques. At this point, it would be necessary for bulls to exercise some degree of cautiousness. Longing activities should stop for a while to let off the current trading capacity and get a reshape, suggesting it has been put back into a lower-trading zone by the reading of the Stochastic Oscillators before thinking of making a comeback afterward.
The positive potential of the trade has been on alert to decline around the $300 barrier. Before sellers reconsider mounting a shorting order in the process, a bearish candlestick must surface in any pattern or format to confirm the potential of price restarting additional rounds of a decreasing force. A breakout of the value line will allow the market to encounter a higher resistance point around $320.
BNB/BTC Price Analysis
In comparison, Binance Coin has continuously maintained a high-trading outlook against the weight of Bitcoin. The pairing cryptocurrency price has featured lower highs and fewer lows around the smaller SMA trend line. The 50-day SMA indicator stretches northward below the 14-day SMA indicator. The Stochastic Oscillators have swerved northbound from the oversold region. Additionally, from the 40 range to 63.07 and 58.31 range values later. They have closed the lines to the southward to indicate that a debasing motion is relatively ongoing.
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