BNB Price Analysis – April 26
After the breakout above the moving averages, the Binance Coin may continue to rise.
Resistance levels: $625, $645, $665
Support levels: $435, $415, $395
BNB/USD is currently trading at $534 after confirming a daily uptrend and climbing above the 9-day and 21-day moving averages. In case the buyers were able to push the price above the resistance level of $550 and the daily candlestick may close above this level, then, the price may rally towards the previous high, resistance level of $566.
Would Binance Coin Go Up or Down?
Looking at the daily chart, the 9-day moving average is slightly trading above the 21-day moving average and the coin is likewise trading above the resistance level of $520 which connotes that the buyers are currently gaining upper hand in the market. The technical indicator is currently crossing above the 55-level with the signal line pointing up to indicate a buy signal.
However, in case the buyers were able to push the price above the resistance level of $600 and the daily candlestick close above this level, then, the price may rally towards the previous high at $625, $645, and $665 resistance levels while the supports could be located at $435, $415, and $395.
BNB/BTC Market: Price Not Ready to Retain the Upward Movement
When compares with Bitcoin, the coin moves sideways but if the market follows a bullish surge, BNB may swing high to the resistance levels of 0.012 BTC and above. Crossing below the 9-day and 21-day moving averages could to the support level of 0.009 BTC and below.
However, on the technical indicator RSI (14), the signal line is currently moving below the 65-level, a sign of bearish movement.