Binance coin traded in s smooth curved path, from its point of rejection at a higher resistance till it touches the lower limit. Furthermore, it seems as if BNB/USD price has rebounded off the lower limit, And may have begun retracing higher resistance.
Binance Coin Forecast Statistics Data:
BNB current price: $286.5
BNB market cap: $45.9 billion
BNB circulating supply:161.3 million
BNB total supply: 161.3 million
BNB Coinmarketcap ranking: #5
In this forecast we shall be critically examining the BNB/USD and BNB/BTC markets, trying to find what trading opportunities lies in there. We shall also try to figure out the best way we could approach this market, to make profits and minimize losses.
Major Price Marks:
Resistance levels: $26.5, $307, $328.5
Support levels: $316, $298, $278.9
Binance Coin Bulls May Be Recovering; When Tamadoge Set to Show Impressive Market Performance
Following a soft rejection at a higher resistance, BNB/USD price action has retracted its path back to lower support. Consequently, this lower support was found at the lower band of the BB (Bollinger band) Indicator. And, by close examination, it appears as if Price’s action has taken another soft rebound off this support towards the upside. This is because the Stochastic RSI lines crossed each other Just when this last bullish candlestick appeared. Furthermore, there must have been a gradual build-up to this. Perhaps the bulls may have been gathering strength gradually.
Additionally, the crossing of the SRSI may indicate that enough strength has been gathered by the bull for an upside correction. Consequently, this signifies that we might be at the start of an uptrend. Traders should place and set up their orders. An entry can be placed around $305, as the price seems set to rise from this point.
Binance Coin Price Analysis: BNB/BTC Retraces Higher Price Levels
BNB/BTC chart portrays a reversal around the middle line of the BB Indicator. Progressively, price movements have been able to cross the upper part of the middle band of the Bollinger indicator. This could be pointing to the price development from the BNB/USD market. Perhaps, this confirms that price has commenced an uptrend in that market.
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Furthermore, the SRSI indicator further, portrays the uptrend as we can see that the lines of this Indicator are already trending upwards. Consequently, this is showing that the upward retracement is gathering strength even here. So in this market, we can anticipate value getting to around 0.014500.
Tamadoge is also securing strategic listings on centralized and decentralized exchanges as part of its roadmap. The first listing has already been secured on LBank. LBank is a centralized exchange, and the Tamadoge team is optimistic that TAMA could be paired with ETH to support the projects rapid growth as it faces improved liquidity.
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Source: https://insidebitcoins.com/news/binance-coin-at-verge-of-an-uptrend-as-tamadoge-prepares-a-bullish-market