The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins.<\/p>\n
Bitcoin\u2019s (BTC) price saw a pullback from $24,200 to $22,800 despite showing signs of a relief rally but was faced with resistance to breakout. Despite the shake-out, the price of the Binance coin remained strong. (Data feeds from Binance)<\/p>\n
Price Analysis Of BNB On The Weekly Chart
\nWeekly BNB Price Chart | Source: BNBUSDT On Tradingview.com<\/p>\n
From the chart, the price of BNB saw a weekly low of around $210, which bounced from that area and rallied to a price of $330.<\/p>\n
The price has built more momentum as it faces resistance at $336.<\/p>\n
If the price of BMB on the weekly chart continues with this bullish structure, it could quickly revisit\u00a0 $450.<\/p>\n
Weekly resistance for the price of BNB \u2013 $336.<\/p>\n
Weekly support for the price of BNB \u2013 $300, 210.<\/p>\n
Price Analysis Of BNB On The Daily (1D) Chart
\nDaily BNB Price Chart | Source: BNBUSDT On Tradingview.com<\/p>\n
The price of BNB found strong support at around $270, with what seems to be an area of interest on the daily chart.<\/p>\n
BNB bounced from its support, forming a trendline as it faces resistance to break above $336.<\/p>\n
At the point of writing, the price of BNB is at $333, trying to break the resistance at the $336 area.\u00a0<\/p>\n
If the price of BNB breaks above the $336 resistance with good volume the price of BNB could rally to a high of $450.<\/p>\n
The trendline formed by BNB acts as the support and area of interest for subsequent buy bids. A break of this trendline below invalidates the setup.<\/p>\n
With more buy bids, and the positive CPI announcement we could see the price of BNB trending higher.\u00a0<\/p>\n
The RSI for the price of BNB on the daily chart is above 70, indicating healthy buy bids for BNB.<\/p>\n
The volume for BNB indicates buy bids, this shows bulls would want to push the price higher.<\/p>\n
\u00a0<\/p>\n
Daily (1D) resistance for BNB price \u2013 $336.<\/p>\n
Daily (1D) support for BNB price \u2013 $270, $220.<\/p>\n
Price Analysis OF BNB On The Four-Hourly (4H) Chart
\nFour-Hourly BNB Price Chart | Source: BNBUSDT On Tradingview.com<\/p>\n
The price of BNB has continued to maintain its bullish structure despite retracing to its trendline support on the 4H chart, as the price faces resistance at $336.<\/p>\n
BNB price is $333, trading above the 50 and 200 EMA with prices of $310 and $280 on the 4H chart. These prices would act as support areas for BNB on the 4H chart.<\/p>\n
Four Hourly (4H) resistance for BNB price \u2013 $336.<\/p>\n
Four hourly (4h) support for BNB price \u2013 $310, $280.<\/p>\n
With the positive CPI news, the price of BNB could break the resistance and would trend higher.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
Featured image from Bitnovo, Charts from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins.<\/p>\n
Bitcoin\u2019s (BTC) price saw a pullback from $24,200 to $22,800 despite showing signs of a relief rally but was faced with resistance to breakout. Despite the shake-out, the price of the Binance coin remained strong. (Data feeds from Binance)<\/p>\n
Price Analysis Of BNB On The Weekly Chart
\nWeekly BNB Price Chart | Source: BNBUSDT On Tradingview.com<\/p>\n
From the chart, the price of BNB saw a weekly low of around $210, which bounced from that area and rallied to a price of $330.<\/p>\n
The price has built more momentum as it faces resistance at $336.<\/p>\n
If the price of BMB on the weekly chart continues with this bullish structure, it could quickly revisit\u00a0 $450.<\/p>\n
Weekly resistance for the price of BNB \u2013 $336.<\/p>\n
Weekly support for the price of BNB \u2013 $300, 210.<\/p>\n
Price Analysis Of BNB On The Daily (1D) Chart
\nDaily BNB Price Chart | Source: BNBUSDT On Tradingview.com<\/p>\n
The price of BNB found strong support at around $270, with what seems to be an area of interest on the daily chart.<\/p>\n
BNB bounced from its support, forming a trendline as it faces resistance to break above $336.<\/p>\n
At the point of writing, the price of BNB is at $333, trying to break the resistance at the $336 area.\u00a0<\/p>\n
If the price of BNB breaks above the $336 resistance with good volume the price of BNB could rally to a high of $450.<\/p>\n
The trendline formed by BNB acts as the support and area of interest for subsequent buy bids. A break of this trendline below invalidates the setup.<\/p>\n
With more buy bids, and the positive CPI announcement we could see the price of BNB trending higher.\u00a0<\/p>\n
The RSI for the price of BNB on the daily chart is above 70, indicating healthy buy bids for BNB.<\/p>\n
The volume for BNB indicates buy bids, this shows bulls would want to push the price higher.<\/p>\n
\u00a0<\/p>\n
Daily (1D) resistance for BNB price \u2013 $336.<\/p>\n
Daily (1D) support for BNB price \u2013 $270, $220.<\/p>\n
Price Analysis OF BNB On The Four-Hourly (4H) Chart
\nFour-Hourly BNB Price Chart | Source: BNBUSDT On Tradingview.com<\/p>\n
The price of BNB has continued to maintain its bullish structure despite retracing to its trendline support on the 4H chart, as the price faces resistance at $336.<\/p>\n
BNB price is $333, trading above the 50 and 200 EMA with prices of $310 and $280 on the 4H chart. These prices would act as support areas for BNB on the 4H chart.<\/p>\n
Four Hourly (4H) resistance for BNB price \u2013 $336.<\/p>\n
Four hourly (4h) support for BNB price \u2013 $310, $280.<\/p>\n
With the positive CPI news, the price of BNB could break the resistance and would trend higher.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
Featured image from Bitnovo, Charts from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-5333","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=5333"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5333\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=5333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=5333"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=5333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}