2024

Long

Coin

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   Feb 03, 2024 at 07:20 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/b0f/900_900_1/3ytmqyv2ukushfmg08kvddzjgihs169n.jpg" width="900" height="563" alt="" title="">
 <p><strong>Binance Coin (BNB) price is bearish between the moving average lines. Price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="bnb-price-long-term-forecast-bearish">BNB price long-term forecast: bearish</h2>
 <p style="text-align: justify;">Binance Coin (BNB)&nbsp;has experienced two rejections at the highs of $330 and $310, leading to its decline. BNB is now trading at $300.30. The cryptocurrency remains trapped between the moving average lines. Should the bears break the 50-day SMA to the downside, BNB would drop to a low of $270.&nbsp;</p>
 <p style="text-align: justify;">In the meantime, the altcoin is holding above the support level of $300 or the 50-day SMA. Since January 8, buyers have stubbornly supported the existing support level of $290. Long candlestick tails indicate support at $290, suggesting strong buying pressure at the previous low.</p>
 <h2 style="text-align: justify;" id="bnbindicator-reading">BNB&nbsp;indicator reading</h2>
 <p style="text-align: justify;">The price bars remain between the moving average lines after the rejection at $310. The sideways trend has held the moving average lines horizontally. The price movement was limited by the doji candlesticks.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $300, $350, $400</b></p>
 <p style="text-align: justify;"><b>Key support levels – $200, $150, $100</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="BNBUSD (Daily Chart) –FEB.02.jpg" src="https://cdn.thebittimes.com/images/2024/02/03/11125dc566a851edd66a2cd56fcb6d41.webp" height="551" title="BNBUSD (Daily Chart) –FEB.02, 2024"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-bnb-usd">What is the next direction for BNB/USD?</h2>
 <p style="text-align: justify;">On the 4-hour chart, BNB is still in a sideways trend and falling into a lower price range. On the 4-hour chart, the price movement is limited to the $290 and $311 price levels.</p>
 <p style="text-align: justify;">Moreover, doji candlesticks play an important role in characterizing the cryptocurrency value.<br></p>
 <p style="text-align: justify;">Previously on January 19, Coinidol.com reported that on the 4-hour chart, BNB was trading in a narrow range of $290 to $320.</p>
 <p style="text-align: justify;"><img width="1024" alt="BNBUSD (4 hour Chart) –FEB.02.jpg" src="https://cdn.thebittimes.com/images/2024/02/03/26656dd63db04ef617bdfb9a1cbf405e.webp" height="551" title="BNBUSD (4 hour Chart) –FEB.02, 2024"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-coin-price-experiences-two-rejections-but-remains-solidly-above-300-tbt78755.html">https://thebittimes.com/binance-coin-price-experiences-two-rejections-but-remains-solidly-above-300-tbt78755.html</a></p>

Binance Coin Price Experiences Two Rejections, But Remains Solidly Above $300

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TheBitTimes

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