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Vikram
Apr 4, 2022
by Vikram

BNB Technical Analysis: Will Buyers Surpass the $450 Barrier?

BNB
BNB coin price experiences a surge in buying pressure and surpasses the 200-day EMA. Will the uptrend overpower sellers at $450?

Key technical points:

  • BNB prices have increased by 1.21% in the past 24 hours.

  • The uptrend challenges the $450 barrier.

  • Finally, the 24-hour trading volume of Binance is $2.145 Billion, marking a 1.66% fall.

    • Past Performance of BNB

    BNB coin price started the reversal rally from the $350 mark with a double bottom breakout resulting in a 26% jump. The uptrend surpasses all the critical EMAs in the daily chart and teases a potential golden crossover. The rally increases buying pressure and challenges the psychological barrier at $450.

    TradingView Chart

    BNB Technical Analysis 

    BNB coin price action showed lower price rejection in the daily candle previous this week. Hence, the possibility of a bull run surpassing the $450 mark increases significantly.

    The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment but the reversal of the 50-day EMA increases the golden crossover possibility. Moreover, the price sustaining above the 200-day EMA highlights a buying opportunity. 

    RSI Indicator: The RSI slope projects a long-coming uptrend and a phenomenal rise in underlying bullishness. However, the uptrend failed to surpass the overbought boundary.

    MACD Indicator: The MACD and signal lines reflect a decline in the bullish spread and increase the chances of negative crossover. Therefore, the indicator is on the verge of giving a selling signal.

    The BNB technical analysis reflects a high likelihood of a freefall below the $1 mark.

    Upcoming Trend 

    The BNB/USD technical chart projects a constant surge in buying pressure indicating a high possibility of the $450 breakout. Therefore, traders can find profitable entry spots at current market prices.

    Support Levels: $425 and $400

    Resistance Levels: $480 and $500

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    BNB Technical Analysis: Will Buyers Surpass the $450 Barrier?
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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