Binance Chain Native Tokens (BNB0) have fallen below moving average lines, after the price was rejected at the peak of $612.50. on October 31. The cryptocurrency dropped to $570, before recovering.

BNB Price Long Term Forecast:

BNB's current price suggests that it is trading in a restricted range between $540 and $620. Bulls will continue to buy dips if the price falls below the lower range. Bulls are holding the $540 support level. Today, the upward trend could continue. However, the altcoins will be rejected by the moving average lines.

Recent price movements have been held back by resistance around $600. The altcoin trades below the moving averages indicating a trend upward. BNB's current value is $575.

BNB Indicator Analysis

BNB's bar chart fell below its moving average on October 31. Bulls are protecting the $540 level of support to limit the altcoins' further decline. The price bars are lower than the moving average, which indicates a further drop for the cryptocurrency.

Technical Indicators:

Resistance levels - $600, $650, $700

Support Levels - $400, $350, $300

What is the next trend for BNB/USD?

BNB is expected to continue trading sideways, as it continues to fall below the moving-average lines. Altcoins are currently bearish, as they reach the lower $540 area. The price movement is gradual due to doji candles. If the altcoin price falls below the range, a sideways trend is likely to start.

Disclaimer. Disclaimer. This analysis and forecast is the author's personal opinion. 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.