Binance Coin price seems to have expended all its upside energy on its way toward $320. Having done that, this crypto seems to be on its way toward lower support. Although BNB/USD price stays above major support, there are signs that it may eventually fall lower.
Binance Coin Analysis Statistics Data:
BNB value now: $291.90
Binance market cap: $46.68 billion
BNB moving supply: 159.97 million
Binance Total Supply: 159.97 million
BNB Coinmarketcap ranking: #5
Key price Levels:
Resistance: $292.50, $295.00, $296.50
Support: $291.90, $290.00, $288.00
Binance Coin Price Prediction Today December 4, 2022: BNB/USD Looks Ready to Fall lower
On the daily BNB/USD chart, we can see that the latest bearish price candle, has further pushed the price closer to the support formed by the middle limit of the used Bollinger indicator. Also, the Relative Strength Index indicator lines can be seen at a point moving towards each other for an upside crossover. However, these lines later diverged from that course and have continued their downward path below the $300 price level. Although, Since Binance Coin price hasn’t reached the MA support traders can still anticipate a bounce off this line. Nevertheless, going by the signs coming from the RSI price may fall below the $290 price level.
Binance Coin Price Prediction Today December 4, 2022: BNB/BTC Is Trying to Break Price Downward Retracement
The BNB/BTC bulls, are attempting to at least pause the sharp price fall on this daily chart. This is portrayed by the appearance of a short-bodied bullish price candle. Also, it could be seen that the current market price of BMB/BTC is now aligned with the MA of the Bollinger band. Furthermore, the lines of the Stochastic RSI have now reached the oversold region, with the faster one making a minor bend towards the slower one. By implication, it looks like factors that initiate price increases in this market are now attempting a bullish crossover. If eventually, upside price factors in this market are trying to initiate a price reversal, consequently, BNB/BTC price may then break the 0.01800 price level. Else, if these forces should prove to be insufficient then price will continue moving towards the 0.01656 mark.
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