Cryptopolitan 2021-09-22 19:36:45

Binance Coin price analysis: Can bulls breakthrough the $375 resistance level?

TL;DR Breakdown Binance Coin price analysis suggests recovery to $400The closest support level lies at $350BNB faces resistance at the $375 mark The Binance Coin price analysis shows that the bulls have struggled free from the bears and now dominate the short-term charts as BNB makes a return to the $375 mark. However, the selling pressure at the $375 mark remains high as the fear of another price drop causes a short-term sell-off. The broader cryptocurrency market observes a bullish market sentiment over the last 24-hours as most major cryptocurrencies record positive price movements. Major players include ATOM and SOL recording a 17.84 and a 14.12 percent incline respectively. Binance Coin price analysis: Bears dominate the market Technical indicators for BNB/USDT by Tradingview Across the technical indicators, the MACD is currently bullish as expressed by the green histogram. The indicators have just observed a bullish crossover in the last 12 hours and since then show a growing bullish momentum as the price action heads towards the $400 mark. However, the price action faces resistance at the $375 mark that prevents the momentum from growing further. The EMAs are currently moving upwards as the Binance Coin market recovers. The 12-EMA is trading with a steeper slope suggesting an increasing bullish momentum as the buying activity continues in the markets. The RSI was down in the oversold regio...

Binance Coin price analysis: Can bulls breakthrough the $375 resistance level?

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