THELOGICALINDIAN - Binance bread amount started a downside alteration from able-bodied aloft 1500 adjoin the USDT BNB amount is now abutting a able buy area which is acceptable to date addition rally
Binance Coin Price Approaching Key Support
Earlier this week, we saw a able assemblage in bitcoin, Ethereum, ripple, binance bread and a few added aloft altcoins. BNB amount climbed aloft the $14.00 and $14.50 attrition levels.
Besides, there was a abutting aloft the key $14.00 breadth and the 100 simple affective boilerplate (4-hours). It opened the doors for added assets and the amount climbed aloft the $15.00 level.
A new 2020 aerial was formed abreast $15.32 afore the amount started a downside correction. Similarly, there was a correction beachcomber in bitcoin from able-bodied aloft $8,400 and the amount beneath beneath $8,000.
Binance bread amount is now trading beneath the $14.80 axis level. There was additionally a breach beneath the 23.6% Fib retracement akin of the advancement move from the $12.97 low to $15.32 high.
However, the amount is now abutting a brace of important supports abreast $14.25 and $14.00. Additionally, the 50% Fib retracement akin of the advancement move from the $12.97 low to $15.32 aerial is abreast the $14.15 level.
More importantly, there is an ascendance approach basic with abutment abreast $14.00 on the 4-hours blueprint of the BNB/USDT pair. Finally, the 100 SMA is abreast the $13.90 breadth to act as a able support.
Therefore, there are aerial affairs of addition assemblage in binance bread amount as continued as it is aloft $13.90. On the upside, a bright breach aloft the $14.50 and $14.80 levels could activate a billow aloft $15.00.
What If BNB Bulls Fail?
We cannot absolutely abandon the affairs of a breakdown beneath the $14.00 and $13.90 abutment levels. If BNB amount settles beneath the 100 simple affective boilerplate (4-hours), there is a accident of a aciculate abatement beneath $13.80 and $13.50.
Looking at the chart, binance bread amount is acutely trading abreast a acute abutment breadth at $14.20 and $14.00, suggesting aerial possibilities of addition access aloft $14.50 and $15.00.
Technical Indicators
4-Hours MACD – The MACD for BNB/USDT is accident drive in the bearish zone.
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is currently crumbling beneath 50.
Major Support Levels – $14.20, $14.00 and $13.90.
Major Resistance Levels – $14.50, $14.80 and $15.00.
