Binance Coin Price Prediction – July 30
Binance Coin market activity is building strength in a rally to overtake the market value of the US Dollar. The price has traded between $213.67 and $301.21 over the past thirty days. The crypto economy is around $297 at a positive 1.23 percent.
Binance Coin Price Statistics:
BNB price now – $297.71
BNB Market Cap – $48 billion
BNB circulating supply – 163.3 million
Total supply of BNB – 163.3 million
Coinmarketcap Ranking – #5
Binance Coin Market
Resistance levels: $320, $350, $380
Support Levels: $250, $220, $190
BNB/USD – Daily Chart
The BNB/USD daily chart shows that the crypto market is building strength against the valuation of US fiat currency. The presentation of the series candlesticks has recently formed to break above the SMA trend lines. The 14-day SMA indicator is $257, below the 50-day SMA indicator, which is $285.9. The bullish trendline approached the trendline of the smaller SMA to outline the lower trajectory from which the price could swing higher. Stochastic oscillators briefly moved into the overbought region.
Will the BNB/USD trade push even higher?
It is interesting to observe the rate at which the BNB/USD trade pushes rallying way as the crypto price rises in strength. At the time of writing, the price has pushed north slightly past the value of the 50-day SMA. But, jumping into the market to follow the momentum can cause a bull trap in no time. Therefore, open buy positions that could have been taken can allow running until a significant sell signal subsequently emanates.
On the downside of technical analysis, BNB/USD market bears should be cautious before exercising a new sell order for a while, as the upward momentum on the 50-day SMA trendline had no significant signal to back up an early occurrence of the declining mode. Therefore, it is necessary to cautiously wait for a convergence trading pattern on the trendline of the larger SMA before getting a decent sell entry.
BNB/BTC price analysis
In comparison, the Binance Coin market has continuously maintained higher positions against Bitcoin above the SMA trendlines. The 14 day SMA indicator is higher than the 50 day SMA indicator. The Stochastic Oscillators are positioned obliquely north from the 20 range, pointing up just below the 80 range. Meanwhile, a bearish candlestick warned against executing new orders buy to indicate that the base crypto may soon drop. for a while, by partnering with its counter-trading tool.
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