At least, the bear movement failed to last long, thereby enabling the bulls to form an amazing price rebound. Nevertheless, the major bearish price movement happened for over two hours creating another two hours of bullish price action. Meanwhile, the bulls are now attempting to break beyond the 26 Day EMA in a confirmed uptrend; following a break above the 12 Day EMA on the 4 hour Chart.
On the other hand, the hourly chart is surging at a steady trend with a bull cross upon the EMA’s. In fact the bulls have more room for growing given the Relative Strength Index isn't already yet in the overbought support area.
In case the bulls maintain steady momentum; a Bullish Hammer Candlestick forming around the daily chart could end up experiencing an uptrend continuation today or tomorrow. Unfortunately, Binance Coin is still trading below both EMA’s and the daily chart is still in a downtrend. Despite either factors though, a Resistance Strength Index (RSI) is around the oversold area which could propel the bulls.
Nevertheless, it is worth noting the Binance platform has plans underway for open registration and deposits to the new United States exchange on September 18. However, trading will commence later on in the course of the month.
The BNB weekly chart shows a steady downtrend and either EMA’s are far away at $24.68 and $26.54 respectively. In comparison, the Monthly Chart continues in a massive uptrend and the bulls are still proving their strength defending the hurdled 12 Day EMA. Given the volumes, it seems a lot of strength for the bulls as the recent bearish months, have been trending towards a volume decline. In comparison to a stuttling volume increase in the following bullish months.