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Binance Coin Analysis: BNB Drawing Closer To Yearly Highs Binance DeFi integration causes a spike in network activity while creating interest in Binance Coin. BNB seeks support after rejection at $34; the buyer congestion at $28 to come in handy. Binance Coin dived to lows of $6.4 following the Black Thursday crash in March. The majority of markets around the globe were feeling the heat from the Coronavirus outbreak. A recovery started alongside other major digital assets but Binance Coin as always curved its unique path, aiming for new yearly highs. There have been barriers but bulls remained relentless in the push for higher levels. BNB enjoys the support of the largest cryptocurrency exchange by daily volume and the number of users, Binance. The exchange encourages users to pay fees using BNB thereby driving up demand for the token. The recent integration of DeFi into the Binance Smart Chain resulted in increased transactions and activities from projects such as BakerySwap, BurgerSwap, and Cream Finance. According to data from the Binance Smart Chain, BurgerSwap attracted a staking volume of up to $400 million in just 24 hours. Daily transaction activity also surged as per the data provided by BscScan. At the time of writing, Binance Coin is seeking support above $30 after hitting a new September high at $34. If the retreat extends below 30, the resistance flipped into support at $28 will come in handy. However, Binance seems to be taking a breather from the mission to new yearly highs considering the wide gap created by the 50 Moving Average above the 100 MA. The RSI signals a short term retreat from the overbought region but low volatility means that the upside does not have a lot of traction. BNB Intraday Levels Spot rate: 30.70 Relative change: -1.82 Percentage change: -5.88% Trend: Short term bearish bias Volatility: Low
BINANCE:BNBUSDLong
by CoinGape
3
BNB Looking For Higher Prices??Unfortunately, this post I made about a month ago got banned because I accidentally violated the rules. So far, things worked out perfectly and hit our $33 target. Previous Post: "Those of you who have been following me for some time know that I've been following BNB for some time now and expected a large push-up. Given the fact that Binance is getting back into IEO's and from a technical perspective we see a large descending broadening wedge, if we see a weekly close above $24.75, that will likely trigger a move towards the Yearly R1 pivot at $33."
by CryptoSyphn
1
Binance Coin Analysis: BNB/USD Relaunches Moon-bound Rocket Binance Coin builds upon August support at $20 for a bullish case eyeing $30. BNB/USD has the potential to hit new August high as highlighted by the RSI and the MACD indicators. Binance Coin (BNB) is on steroids as it takes down some of the barriers put in place by sellers following the dive from August high at $24. BNB has been one of the best-performing cryptocurrencies in the market in 2020. Note that in February, Binance Coin drew much closer to $30 but traded yearly high at $27.29. The fall in March affected all the digital assets with BNB plunging to lows at $6.40. Since the breakdown in March, Binance Coin has more than tripled in value. Most of the gains have, however, been recorded in July and August. The bulls consistently continued with rally in July, to the extent of hitting levels above $20. The bullish leg was then extended to $24 in the first week of August. Unfortunately, a reversal took precedence sending BNB to confirm support at $20.50. The fall was not necessarily a bad thing because buyers seem to have rejuvenated and are coming back stronger in a bid to trade a new August high. In the meantime, Binance Coin has been able to clear the resistance at the 61.8% Fibonacci retracement level taken between the last swing high of $24 to a swing low at $20.45. The price is teetering at $23.45 but all eyes are glued on the next hurdle at $24. Technically, Binance Coin has the potential to hit not only highs above $24 but also trend towards $30. The RSI and the MACD clearly reflect the bullish case. In addition, volatility is high and in conjunction with the increasing volume, they could catapult BNB closer to $30. Binance Coin Intraday Levels Spot rate: $23.45 Relative change: 0.3455 Percentage change: 1.5% Trend:  Bullish Volatility: High
BINANCE:BNBUSDLong
by CoinGape
BNBUSD: Analysis using Ichimoku 22/07/2020H4 On D1, the cloud is directing upward, indicating an uptrend. Also, the boundary of the ascending plane (channel) is visually visible, which can be a price correction. Conclusion: The price can form a local triangle-shaped correction pattern. RSI H4 may also form a triangular range. We recommend buying BNB at the end of the triangle pattern formation. H1 At H4, the cloud is directing upward, indicating an uptrend. RSI H1 is near the oversold level. Conclusion: It is worth paying attention to the possible resistance line, which could become the border of the triangle on H4. We recommend selling BNB when the price reaches the resistance line, and RSI H1 reaches the overbought level. In the medium term, we should expect the price to rise to the level of $20, possibly higher.
by QubitLife
1
BNB Breakout is expected in coming weeksBNB is in tight zone. We may expect a breakout in coming weeks. Reasons: 1. Two Greens candle can be seen at end of triangular wedge, making higher high which is an indication for bullish movement. 2. Candles respecting the wedge upper line which is resistance. It may going to test the support and after that it is going to breakout of the wedge in a strong upward movement. 3. Engulfing Green Candle at the end of the wedge has also broken the White Trend line resistance which was tested 2 times before. Now Retrace is a normal process. It is going to test the support at 16626 and if it is rejected then a strong breakout is ON. Be ready for every kind of situation. I have tried to analyze it for you so that you can make your decisions accordingly. Thanks.
by SmartMaxi