Binance Coin (BNBUSD) Price Forecast: June 16
BNBUSD price is set to rise further as we are seeing a bullish correction in place. The coin price is actually on its way to the critical supply level. However, the bull trend may likely continue provided the buy investors add more strength to their actions and push the crypto upward. The coin might turn upsides further to hit the $800.0 high level and beyond which indeed will be a great turnaround and a clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $300.0 $400.0 $500.0
Support Levels: $150.0, $100.0, $90.0
BNB (USD) Long-term Trend: Bearish (Daily Chart)
The BNBUSD pair is showing a bearish sentiment. This is clear as we can see the prices trading below the moving average lines indicating a bearish trend.
However, the previous action at the $220.6 low level in the past few days has really sustained the Binance Coin price to remain below the trend line in its recent high.
The coin price finds reliable resistance at around $253.0 level slightly below the two EMAs as the daily chart opens today. This is as a result of more concerns from the buy investors.
Therefore, should the bulls increase their swagger in the market, the price is poised to pump up above the key resistance levels around the $352.2.
Meanwhile, a further rise in the market price of BNBUSD is possible ,as the selling pressure has ended. The coin market is now suggesting an uptrend on the daily stochastic. This means that the price might possibly continue to trend upwards and may likely reach the $800.0 supply level soon in its higher time frame.
BNB (USD) Medium-term Trend: Bullish (4H Chart)
The Binance Coin price is in a bullish market at the moment. Further, the coin is trading slightly above the moving average-9 indicating an uptrend.
The coin has been having a series of move from both the bulls and the bears in the past few days. However, the bulls’ pressure on the 13th of June to the $244.2 supply level has enabled the BNBUSD price to stay in an uptrend in its recent times.
The bulls made a corrective rally up to a $249.1 supply trend line above the EMA-9 shortly after the 4-hourly session opens today. This will enable buyers to influence the price tendency.
Further, the Binance Coin price is pointing up indicating an uptrend as shown by the price indicator; it means that the buying pressure will continue. As a result of that, the bullish race might possibly reach the $800.0 resistance level soon in its medium-term outlook.
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