BNB price fails to rise above $640 as it falls below 50-day SMA. BNB price by CryptoGuestPosts.

BNB Price Long-Term Prediction: Bullish

Altcoins have started their uptrends after breaking through the moving average line and reaching a maximum of $643. BNB, however, has traded above the moving-average lines, but below $640, for the last week.

BNB is under further pressure today as the bears have broken through the support of the 50-day SMA. Binance Coin is expected to fall back to its old lows of $580 or $560. BNB, however, will be stuck between the moving-average lines if BNB falls and stays above 21-day SMA.

BNB indicator reading

BNB's price bars remain above the moving-average lines, despite recent declines. The price bars have fallen below the moving-average lines on the 4-hour chart, which indicates a further drop. The horizontal moving-average lines show sideways movement.

Technical Indicators:

Key Resistance Levels - $600 $650 $700

Key support levels - $400, $350, $300

What is the next trend for BNB/USD?

BNB, despite trading in a sideways fashion, is now below the SMA of 50 days. BNB will resume its upward trend if it retraces, and remains above the daily moving-average lines. It could also retest $640 if BNB stays above these lines. If the altcoin breaks through the 50-day SMA, it will drop to $520.

Disclaimer. Disclaimer. This analysis and forecast is the personal opinion of the author. These are not recommendations to buy or trade cryptocurrency, and should not be seen as endorsements by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.