Lorenzo Stroe
Independent Analyst
- BNB/USD is losing ground to Bitcoin and it’s at risk of falling below $15.
- BNB lost the daily uptrend weeks ago and hasn’t been able to recover.
It wasn’t long ago that BNB was outperforming the entire crypto market. Every Binance announcement pumped BNB by 5-10%. Unfortunately, BNB couldn’t keep up and eventually had a massive crash. Binance coin is currently far weaker than the rest of the market, for instance, the daily uptrend has been lost since June 11 while Bitcoin and others managed to regain it on June 22.
BNB/USD daily chart
Not many positive indicators for BNB here, the 12-EMA and the 26-EMA crossed bearishly on June 15, a bit after the MACD had a bear cross. The daily RSI is at 38 points but not yet oversold which means bears can see even more selling. The trading volume has been decreasing significantly this month.
BNB/USD 4-hour chart
The 4-hour chart is also in a downtrend but a higher low has been formed at $15.57 which means buyers could change the trend in the near future if they have enough strength. The next resistance level to beat is $15.84, the 12-EMA followed by $15.98, the 26-EMA. The last resistance level is established at $16.08 which is the 4-hour-high.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.