Binance Coin Price Prediction – July 26
In light of the general prevalence of a declining motion in most crypto economies, the BNB/USD market tends to be at $200 in the long run. The last thirty days of transactions depict the crypto economy as featured in the points of $205 and $274 while its price percentage rate is at a negative 0.74.
Binance Coin Price Statistics:
BNB price now – $242.78
BNB market cap – $39.2 billion
BNB circulating supply – 161.3 million
BNB total supply – 161.3 million
Coinmarketcap ranking – #5
Binance Coin Market
Resistance levels: $255, $275, $295
Support levels: $225, $200, $175
BNB /USD – Daily Chart
The BNB/USD daily chart showcases the crypto market against the valuation of the US Dollar tends to be at $200 in quest of the current downward-trending motion. The 14-day SMA indicator is underneath the 50-day SMA indicator. The upper bearish trend line drew southward below the smaller SMA trend line to position around the $223 or thereabout. The Stochastic Oscillators have crossed southbound from the overbought region to an area in the 40 range. And they are still pointing toward the south to indicate some falling forces are ongoing.
Can there be a rebuild of support around the $223 in the BNB/USD market afterward?
A rebuilding process of support may occur afterward in the BNB/USD market operations between $223 and $200 if they are not fearfully breached to the downside as the crypto economy tends to be at the smaller value line in the long-term run. Not even an indicator suggests a reversal of the declining motion for long-position takers to leverage their entries. Hence the need to wait for the market reactions around those points mentioned earlier before considering executing a buying order.
On the downside of the technical analysis, the BNB/USD market bears have found the market strength after the price faced some rejections closely below the trend line of the 50-day SMA, which is around the $285 resistance level. There has been a slight breach of the 14-day SMA trend line to the downside. There may still be little force price can rely on to see through lower support lines. Therefore, short-position placers must be wary of getting in too late in the market to avoid the unnecessary bear trap.
BNB/BTC Price Analysis
Binance Coin, in comparison with the trending capacity of Bitcoin, has to a reasonable extent, held a higher-resistance spot. The currency pair price tends to be at a lower-trading zone between the SMA trend lines afterward. And that may not be the downward motion that will continue. The 14-day SMA indicator is above the 50-day SMA indicator, and the bullish trend line drew below the smaller SMA to signify the path to the north. The Stochastic Oscillators are around the 40 range, trying to cross to the south side. It shows the base crypto may still go down feebly for a while against its counter.
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