Lorenzo Stroe
Independent Analyst
- BNB/USD is up 4% in the last 24 hours and facing very little resistance to the upside.
- The 100-EMA and the 200-EMA crossed bullishly on August 1.
Binance Coin is currently in a sturdy daily uptrend after a significant indicator crossed bullishly. The 100-EMA and the 200-EMA crossed on August 1 for the first time since March 2019. BNB is currently trading at $23.54 and only faces a crucial resistance level at $27.19, the 2020-high.
BNB/USD 4-hour chart
BNB was having a hard time breaking above $23 but the bulls managed to defend the 4-hour 12-EMA at $21.71 on August 4 and bounced above $23 peaking at $23.54 before a brief pullback. The RSI was slightly overextended while the MACD remained bullish.
BNB/USD 1-hour chart
Buyers are defending the 12-EMA at $23.07 while the RSI is cooling off. The MACD is slowly turning bearish as BNB continues trading sideways.
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