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Binance Coin Price Prediction: BNB/USD Remains Indecisive: Price Stays Above $300

Published on

September 28, 2021

Binance Coin Price Prediction – September 28

As the daily chart reveals, Binance coin price may recover its loss but yet finding it difficult to cross the $350 price mark.

BNB/USD Market

Key Levels:
Resistance levels: $400, $420, $440
Support levels: $280, $260, $240

BNB/USD is currently trading at $338 after hitting the daily high of $350. In the meantime, the coin could stay below the 9-day and 21-day moving averages as bears could return to the market, but the main question now is when will the Binance coin rise? It looks like traders may need to be patient in order to see any returns in the market soon.

Binance Coin Price Prediction: BNB Price Not Ready for The Upside

The Binance coin price has to take the price above the 9-day moving average to build an additional upside momentum by gaining traction with the next focus on $380 which could be followed by the potential resistance levels of $400, $420, and $440 respectively.

However, looking at the daily chart, the bears are likely to drag the Binance Coin below the lower boundary of the channel as the initial support levels may be located at $280, $260, and $240. Moreover, the market may continue to move sideways as the technical indicator, the Relative Strength Index (14) is seen moving in the same direction below 40-level.

BNB/BTC Market: Price Aims to Break More Downside

When compares with Bitcoin, the Binance coin price is changing hands at 8089 SAT and it is currently trading below the 9-day and 21-day moving averages. However, the technical indicator Relative Strength Index (14) suggests that the price may face an upward movement as the signal line prepares to cross above 40-level. Meanwhile, any bullish movement above the 9-day and 21-day moving averages may locate the resistance level of 8800 SAT and above.

On the contrary, if the sellers push the market price beneath the lower boundary of the channel, the next level of support could be located at 7300 SAT and below. Meanwhile, the trading volume is seen coming up slowly while the red-line of 9-day MA remains under the green-line of 21-day MA to confirm the current bearish movement in the market.

Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : September 28, 2021

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