Coinidol.com: BNB Advances as It Rises Above $860

The BNB (BNB) price fell below the moving average lines, reaching a low of $863, but then recovered.

BNB price long-term prediction: bearish

Bulls and bears are competing for price control at the 50-day SMA level. Today, the bulls gained the upper hand as the cryptocurrency price closed above the 50-day SMA.

On the upside, BNB will attempt to reach the $909 high or the 21-day SMA resistance. If buyers overcome the resistance at the 21-day SMA, the bullish momentum will extend to a high of $950. Meanwhile, BNB is trading above the 50-day SMA support but below the 21-day SMA resistance. BNB is now worth $888.

Technical indicators:  

• Resistance Levels – $1,000, $1,050, $1,200

• Support Levels – $900, $850, $800

BNB price indicators reading

The moving average lines have an upward slope, indicating the previous upswing. The 21-day SMA is trending above the 50-day SMA support, and the price bars are positioned between them. On the 4-hour chart, the price bars are below the downward-sloping moving average lines. BNB will continue to advance when it crosses the 21-day SMA level on the 4-hour chart.

What is the next direction for BNB/USD?

The BNB price has resumed its upward trend, breaking above the 21-day SMA level. On the 4-hour chart, the cryptocurrency is trading above the $860 support but below the moving average lines. The price has surpassed the 21-day SMA threshold. On the upside, BNB is expected to reach a high of $915, or the 21-day SMA barrier.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.