The attempt of BNB/USD price action to correct upward has been met with a setback. At this point, it’s now likely that the price will retrace lower to 256.60, before correcting upwards.
Binance Coin Analysis Statistics Data:
BNB’s value now: $276
BNB’s market cap: $44.95 billion
Binance’s moving supply: 32.24 billion
The overall supply of Binance: 161.34 billion
BNB’s Coinmarketcap ranking: #5
In today’s speculation, we shall examine the BNB/USD market, and we will extend our scope to the BNB/BTC market. This will be done with the hope of finding suitable entry points and better market navigation in this inter-related markets.
Crucial Price Marks:
Resistance Marks: $276, $300, $330
Support Marks: $250, $230, $200
BNB Bulls May Loose Strength, TAMA Goes Live on OKX
Since price action paused on its way downwards around $265.60, buying activity resumed in the BNB/USD market, and attempted to push the price to $282. Consequently, price action has now been caught in between the 9 and 21-day Moving averages. At this point, we will likely witness a minor downward retracement towards the 265.60 Fibonacci level. To substantiate this downward correction the Stochastic RSI displays a minor correction in the direction of the faster RSI line, while under the 50% level. Traders can anticipate this level as a buying point, as the price may rally from here.
Binance Price Speculation: BNB/BTC as Well May Retrace Downwards
Going by the last candle on the BNB/BTC, it is logical for us to anticipate a downward retracement. We can see a Doji as the last candle here on this chart. Furthermore, the RSI has reached the 99.91% level, and at this point, we might witness some downward retracement.
Your capital is at risk.
Additionally, traders can expect Binance Coin price to range sideways within the price range of 0.014912 and 0.013564. Therefore, long-term traders who had bought this pair at the 61.80 Fibonacci level may go shot.
In other altcoin news Tamadoge, a deflationary meme coin and ERC-20 token, will have its initial coin offering (IDO) on OKX. TAMA is set to list at $0.03 on Sept 27th.”
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- Presale Raised $19 Million in Under Two Months
- Upcoming ICO on OKX Exchange