The Binance Coin (BNB) broke above the moving average lines on April 18.
BNB price long-term prediction: bullish
On April 7, the bears pushed the BNB price to a low of $518, resulting in a pullback, as Coinidol.com wrote. The bulls overtook the bears and broke above the $580 level and the moving average line. The bullish momentum was initially halted by the 21-day SMA before the breakout. BNB has risen to a high of $609.
BNB indicator reading
Binance Coin is expected to reach a high of $645, although the bullish momentum could stall at $620. Bullish momentum will peak at $680 after clearing the $520 and $645 hurdles.
BNB will rise as the price bars are above the moving average lines as BNB retraced back above the moving average lines on April 21. The price movement was slowed down by the doji candlesticks.
Technical indicators:
Key Resistance Levels – $600, $650, $700
Key Support Levels – $400, $350, $300
What is the next direction for BNB/USD?
The altcoin is trading below the $645 level but above the moving average lines. Once investors push the price above $645, BNB will continue to rise to a high of $680. However, if the price falls, the move will start within the trading rangefrom its most recent high.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
