Binance Coin bulls attempt to challenge the local highs again, but…

BinanceCoin bulls attempt to challenge the local highs again, but...

Binance Coin’s [BNB] Price PredictionThe indicators showed bullish momentum but the demand fueling the rally was weak. This suggested that the bulls could face rejection yet again- can they turn things around within the next two days?Source: BNB/USDT on TradingView

The RSI climbed back above neutral 50 on the 12-hour price chart on 22 April. This highlighted momentum favored the bulls, but it hasn’t climbed above 60 yet. Meanwhile, the OBV meandered around a near-term support level. The lack of a bounce on the OBV despite the rally from $315 this past week suggested that buyers remained more cautious than enthusiastic. The trading volume was enormous in mid-March but barely broke above the 20 SMA over the past few days.The OBV and a lack of volume suggested that BNB could form a range between the $315-$345 levels over the weeks to come.

Moreover, this region had confluence with the bearish order block , which meant the possibility of rejection from the $340-$350 area was good. A breakout past $350 would likely take BNB to the next resistances at $358 and $388.The negative funding rate showed that a majority of the market had been bearish in the past few days, and doubled down on it even as the prices rose.

Long/short data showed the past 24 hours saw 53% of positions being long, which also pointed toward a shift in sentiment. If sustained, it could see BNB breach the $345 resistance area. The lack of demand for the OBV was a concern.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

CryptoAmb /  🏆 22. in CA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Breaking: Binance US terminates deal to acquire Voyager Digital’s assetsBinance US – the American arm of Binance – has terminated its deal to acquire […]
اقرأ أكثر »

Bitcoin [BTC]: This report predicts massive rally – is the king coin primed for $100kBitcoin's prospect to price much higher than the current value could be because the bear market was over. But opinions aligned with a short-term decrease.
اقرأ أكثر »

Toronto Zoo says your wishing well coin donations will help protect African penguin coloniesCoins tossed into the Toronto Zoo wishing wells and school fundraising efforts will soon be used to help fund a cross-Atlantic donation aimed at preserving the African penguin population.
اقرأ أكثر »

Binance lists Floki Inu [FLOKI]: Examining the chances of a continued price pumpBinance announced that trading on FLOKI/USD and FLOKI/USDT pairs will begin on 25 April 2023. This episode was followed by a massive surge in FLOKI’s price.
اقرأ أكثر »

Decoding Floki Inu’s [FLOKI] movement after Binance.US listingFLOKI once again lost its spot on the list of the top 100 cryptos by market cap. Market indicators suggest that bears have taken over.
اقرأ أكثر »

The latest BTC crash has everyone in the market speculating ‘why’–BTC registered a sudden crash right after the coin broke past the $30k level -The […]
اقرأ أكثر »