Binance Coin Technical Analysis: BNB/USD aiming to hit $19 soon after significant shift in momentum
-
BNB/USD is up 3% in the last 24 hours after holding the daily 12-EMA support level
-
The digital asset is currently trading inside a daily uptrend.
BNB had a notable mini-run that started on July 5 from a low of $15.1 to a high of $18.999 only a few days later. BNB then had a consolidation period and dropped towards $16.5 before the bulls took over again.
BNB/USD daily chart
Binance Coin price is aiming to hit $18 in the next few hours as it is trading at $17.94 right now. BNB has remained above the daily 12-EMA at $17.45 and it’s trying to climb above $18 before the next resistance level at $18.34, the high of July 20.
BNB/USD 4-hour chart
BNB seems to be trading sideways here but has managed to stay above both EMAs for quite some time. The MACD has crossed bullishly but only so slightly.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
