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BNB Price Analysis: Price withstand the support level at $278.25.

  • The 24 hours trading volume for the token was 1,346,046,594 and the fall by 22.13% was seen.
  • The percentage change in price by 4.76% is seen since yesterday’s open.
  • MA-200 shows the action of SELL.
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SMA-50 was chased by SMA-20 on 27 May as after the ban by China on crypto markets the currencies had shown a steep fall in price. However, SMA-200 has never crossed since 22 May and June but was once chaseable on 21 June and marked with a circle. The price again fell and marked the low of 220.5889. The coin is running well below its 200 DMA and 50 DMA runs parallel with 20 DMA. At present SMA-20 is just above SMA-50. The chart above shows the movement of SMA and RSI oscillators. 

RSI for the last 5 hours shows the action of SELL with the value of 39.998 and MA-5, MA-10 and MA-20 shows the SELL action. Bull/Bear power shows the SELL action with the value of -17.4220.

The BNB-BTC pair is at 0.008513  and low by 0.88% whereas the BNB-ETH pair is trailing at 0.1377 and up by 3.83% in the last 24 hours. The day’s range for the coin is 277.11-293.32 and presently runs at 279.26. Volume/Market cap is 0.03138 and its market dominance is 3.17%.

Conclusion: The trendline marked in the chart shows the gradual fall in price of BNB. An uptrend was seen in the starting and then the line shows the downtrend. The token at present shows the neutral action and you can sell or buy the token as the average return for June is 12% and if you are getting that much returns then sell it. If you wish to hold the token then you can but the returns are expected to be the same for some more time.

Technical Instruments:

Pivot: 282.06

R-1: 285.87

R-2: 288.23

S-1: 278.25

S-2: 275.89

(Note- The unit is USD)