Binance Coin (BNB)’s recent bullish momentum appears to have thinned out at the $450 resistance as the price has struggled to break this resistance level over the past five days to no avail.
That said, the inability to clear the $450 resistance line sent the fourth-largest cryptocurrency on a sharp retrace to the $420 support this morning. However, BNB found some cushioning from the 100 EMA, which in the daily and 4-hour charts repelled the bearish attempt below $420.
While the cryptocurrency has returned near the $450 mark, a broader market weakness could frustrate an upside attempt in the coming hours. However, the recent decline formed a double-bottom pattern around the $420 area, indicating that bulls still have a shot.
Meanwhile, my resistance levels are $450, $460, and $470, and my support levels are $436, $420, and $410.
Total Market Capitalization: $2.14 trillion
Binance Coin Market Capitalization: $73.5 billion
Binance Coin Dominance: 3.4 %
Market Rank: #4
That said, the inability to clear the $450 resistance line sent the fourth-largest cryptocurrency on a sharp retrace to the $420 support this morning. However, BNB found some cushioning from the 100 EMA, which in the daily and 4-hour charts repelled the bearish attempt below $420.
While the cryptocurrency has returned near the $450 mark, a broader market weakness could frustrate an upside attempt in the coming hours. However, the recent decline formed a double-bottom pattern around the $420 area, indicating that bulls still have a shot.
Meanwhile, my resistance levels are $450, $460, and $470, and my support levels are $436, $420, and $410.
Total Market Capitalization: $2.14 trillion
Binance Coin Market Capitalization: $73.5 billion
Binance Coin Dominance: 3.4 %
Market Rank: #4
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.