Binance Coin Price Analysis – June 17
The Binance coin price is likely to head to the upside as the coin moves toward the 9-day and 21-day moving averages.
Resistance levels: $295, $300, $305
Support levels: $145, $140, $135
BNB/USD is trading at $215.6 after confirming a daily uptrend and climbing above the resistance level of $210. The Binance Coin is likely to make a triumphant return among the top ten coins; therefore, BNB may touch a new high at $250 if it crosses above the moving averages. At the time of writing, BNB validates the $207 level as support, before resuming its upward movement.
Binance Coin Price Analysis: What to Expect from Binance Coin (BNB)
The 9-day moving average is confidently trading below the 21-day moving average and the coin is likewise trading below the resistance level of $220 which connotes that buyers are yet to gain upper hand in the market. The technical indicator is still moving within the overbought region, pointing up to indicate a buy signal.
Meanwhile, should the buyers push the price above the resistance level of $250 and the daily candlestick close above this level, then, the market price may rally towards the resistance levels of $295, $300, and $305 while the supports are located at $145, $140, and $135.
BNB/BTC Market: Bulls May Step Back into the Market
When compared with Bitcoin, if the market continues to follow a bullish surge above the 9-day and 21-day moving averages, the Binance Coin may swing high towards the upper boundary of the channel and move towards the resistance level of 1150 SAT and above.
Meanwhile, on the contrary, crossing below the moving averages could lead to the support level of 950 SAT and below. However, the technical indicator Relative Strength Index (14) is likely to cross above the 60-level, which is a sign of bullish movement.