Binance Coin (BNB) Price Analysis: No Power To Break A Long-Running Resistance

2019-10-11 17:08

Major support zone: $15.30Major resistances: downsloping trendline at $17.25 and confluence of two Fibonacci levels at $21.19Upside potential: breaking the declining trendline and reaching the first resistance at $21.19Downside potential: getting rejected by the trendline again, stooping back to the local bottom at $15.30

Crypto is an up and down game—and today’s been a down day for Binance Coin. However, the losses have been minor – 1.48% loss to USD and a tiny gain of 0.14% over bitcoin.

BNB is currently sitting at the 8th spot of cryptocoins, ranked by market cap with total capitalization of $2.6 billion and 24 hours trading volume of $236 million.

BNBUSD Price Analysis

BNB is still one of the scarce altcoins that actually outpaced bitcoin in the last 12 months, growing 35% then the crypto king itself.

However, the broad market shift and downturn took its toll on Binance coin as well as the coin has been in a downward spiral since June. Right now, BNB is hitting the downsloping trendline at the $17.26 height. The trendline was formed back in June and it is of utmost importance to break this resistance, otherwise, we might see another nosedive to the support levels at $15.30.

On the lower timeframes, it appears that BNB is losing this battle and dropping on a lower volume. Currently, its EMA20 is acting as a support zone.

Read our updated review of Cex.io exchange here.

Social Metrics

Binance’s sentiment score, measured by the market analytics firm Omenics, paints a neutral picture.

Omenics wraps its analysis up into a single simple indicator known as the SentScore, which is formed from the combination of five different verticals:

NewsSocial MediaBuzzTechnical AnalysisFundamentals

Interpreting the SentScore’s scale:

0 to 2.5: very negative2.5 to 4.0: somewhat negative zone4.0 to 6.0: neutral zone6.0 to 7.5: somewhat positive zone7.5 to 10: very positive

Read our updated guide on best cryptocurrencies to mine.

BNB currently has a Sentscore of 4.9, a slight drop from the 5.0 it had couple of days ago. Overall, Binance coin is pretty much average on all counts measured by the platform, falling in line of the overall market conditions and mood status.


The post Binance Coin (BNB) Price Analysis: No Power To Break A Long-Running Resistance appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 649.93 (+0.74%)
Объем 24H $2.838b
Изменеия 24h: 1.37 %, 7d: 5.33 %
Cегодня L: $644.56 - H: $650.77
Капитализация $93.596b Rank 6
Цена в час новости $ 22.85 (2744.33%)

trendline resistance binance potential power analysis bnb

Источник: captainaltcoin.com

trendline resistance → Результатов: 17


Chainlink Price Analysis LINK / USD: Mainnet Euphoria

Chainlink is bullish in the short-term, with the LINK / USD pair advancing to a new 2019 trading high The bullish inverted head and shoulders pattern has now been triggered across the four-hour time frame The daily time frame is showing that the cryptocurrency has now broken above major trendline resistance Chainlink / USD Short-term […] The post Chainlink Price Analysis LINK / USD: Mainnet Euphoria appeared first on Crypto Briefing.

2019-5-16 16:32


BSV / USD Price Analysis: Anomalous Rise

Bitcoin SV has a bearish short-term outlook, with the BSV / USD pair trading well below its 200-period moving average on the four-hour time frame The four-hour time frame continues to show a bearish head and shoulders pattern Bulls are now testing key trendline resistance on the daily time frame Bitcoin SV / USD Short-term […] The post BSV / USD Price Analysis: Anomalous Rise appeared first on Crypto Briefing.

2019-5-9 16:22


LINK / USD Price Analysis: Breaking Chains

Chainlink is bullish in the short-term, with the LINK / USD pair testing towards the current 2019 trading high A bullish inverted head and shoulders pattern has formed across the four-hour time frame The daily time frame is showing that the cryptocurrency is testing towards major trendline resistance Chainlink / USD Short-term price analysis Chainlink […] The post LINK / USD Price Analysis: Breaking Chains appeared first on Crypto Briefing.

2019-5-7 16:54


Фото:

Bitcoin Price Rally Will Continue, Bullish Weekly RSI Suggests

Bitcoin price is knocking on the $6,000 resistance and appears ready to run higher this week. Bitcoin Price: Market Overview Bulls are buying dips on Bitcoin and defending the ascending trendline even though over the weekend and early Monday BTC showed some occasional weakness on the 1 and 4-hour chart by dropping below the exponential moving averages.

2019-5-7 10:00


Фото:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29


Фото:

Markets Update: BTC Tests Major Descending Trendline

The BTC markets are testing a key resistance area, with price action appearing to be making a third point of contact with a major descending trendline dating back to December 2017. Also Read: Japan Roundup: No Excessive Crypto Regulation, Quoine Launches New Platform  BTC On Cusp of Testing Major Trendline The BTC markets appear on the […] The post Markets Update: BTC Tests Major Descending Trendline appeared first on Bitcoin News.

2018-8-27 03:45


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

What is 2020 Preparing for Cryptocurrencies?

Blockchain technology and cryptocurrencies have left us fascinated. Funnily enough, blockchain technology was once touted as a bubble bound to fail surviving the tryst of times. Not only has it survived, but finds its application in several fields of business, including the energy sector, the healthcare sector and tourism.

IOTA Use Cases Rapidly Expanding: Tangle To Solve World’s Waste Problem

The Biota team wants to use IOTA technology to tackle the waste problem. The Tangle will help develop a deposit system that rewards people for collecting plastic waste. IOTA technology for waste separation Decentralised technologies are not necessarily perceived by the public to be the best in terms of energy efficiency and CO2 emissions.

LocalBitcoins Trade Volume Hits Lowest Point Since 2017

At its highest point this year, the platform moved over USD 70,000,000 in one week. Increased personal data required by the platform could influence the decline. Bitcoin (BTC) trades through the LocalBitcoins platform have fallen to their lowest levels since August 2017.

Can The Blazing Fast EOS 2.0 Save Eos, The Token?

The crypto currency EOS is known to many crypto users as the longest ICO of all time. The EOSIO 2.0 update gives you the opportunity to take a closer look at the project and the latest changes. These are of particular interest as they make the network more powerful as well as making dApp developers’ […]The post Can The Blazing Fast EOS 2.0 Save Eos, The Token? appeared first on CaptainAltcoin.