Binance Coin Price Prediction – October 31
Presently, it is apparent that the Binance Coin market is hiking its valuation versus the exchange rate of the US Dollar. The crypto economy is trading at an average percentage rate of 4.56 positive around $327.90
Binance Coin Market
Resistance levels: $340, $360, $380
Support levels: $280, $270, $260
BNB /USD – Daily Chart
The BNB/USD daily chart reveals the crypto market is hiking its valuation tremendously far above the buy signal side of the SMA trend lines over a couple of trading days’ sessions. The 14-day SMA indicator has briefly intercepted the 50-day SMA indicator to the upside as they are at $286.40 and $284.70 value lines. The lower horizontal line remains drawn at the $260 support level to indicate the pivotal baseline that the crypto economy had debased purposely to rebuild its energy values. The Stochastic Oscillators have deepened their presence in the overbought region at 97.98 and 100 range values.
At this point, will the BNB/USD market surge past the $340 resistance sustainably?
There is an indication that the BNB/USD trade operations might not survive surging past the $340 resistance level in sustainability as the crypto economy is hiking its trading weight. Bulls may systemically hold the trading situation into forming a series of price rejections around the value line mentioned earlier. Otherwise, if the current buying force retains its intensity, the point will be breached to test resistance around the $360 level to complete its increasing mode before resuming a correctional motion afterward.
On the downside of the technical analysis, based on what is visible as regards the present trading situation, a bearish candlestick has not formed to signify a resumption of the selling order. A long-holding of bullish trading candlesticks around or closely below the $340 resistance trading line could be a warning sign against getting a reliable shorting at that point. Short-position placers need to be cautious until either a or two bearish candlestick form before reconsidering making a comeback.
BNB/BTC Price Analysis
In comparison, Binance Coin has forcefully mooned to break past most of the high-trading points it achieved previously against the trending ability of Bitcoin. The pairing cryptocurrency price is hiking northwardly far distance above the trend lines of the SMAs. The Stochastic Oscillators are in the overbought region, keeping 98.17 and 100 range values.
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