Binance Coin Forms a Bearish Divergence as Market Weakness Continues By CoinEdition
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Binance Coin Forms a Bearish Divergence as Market Weakness Continues- price analysis shows downtrends forming as market weakness continues.
- The pair has lost almost 2.41% of its value in the last 24 hours.
- The Binance coin is currently trading below the $332 resistance level.
The Binance coin price analysis is indicating declining momentum in the BNB/USD pair. The price has declined from $332 to its current value of $323.28, losing almost 2.41% of its value in the last 24 hours. The bearish divergence is visible on the charts as the price has failed to make any major gains during a period of positive momentum in other sectors of the crypto market.
The support for BNB/USD is currently standing at $318.30 and a break below this level could cause a further decline toward the key support level of $315, which could potentially lead to a bearish trend in the near future. On the upside, BNB/USD needs to break out of the $332 resistance level in order to show any signs of resilience. The resistance level was tested yesterday but was rejected as the bulls were not able to push the price past this level.
Cryptos price heat map, Source: Coin360
The border crypto market is under bearish pressure today. The majorit…
The post Binance Coin Forms a Bearish Divergence as Market Weakness Continues appeared first on Coin Edition.
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Binance Coin Forms a Bearish Divergence as Market Weakness Continues- price analysis shows downtrends forming as market weakness continues.
- The pair has lost almost 2.41% of its value in the last 24 hours.
- The Binance coin is currently trading below the $332 resistance level.
The Binance coin price analysis is indicating declining momentum in the BNB/USD pair. The price has declined from $332 to its current value of $323.28, losing almost 2.41% of its value in the last 24 hours. The bearish divergence is visible on the charts as the price has failed to make any major gains during a period of positive momentum in other sectors of the crypto market.
The support for BNB/USD is currently standing at $318.30 and a break below this level could cause a further decline toward the key support level of $315, which could potentially lead to a bearish trend in the near future. On the upside, BNB/USD needs to break out of the $332 resistance level in order to show any signs of resilience. The resistance level was tested yesterday but was rejected as the bulls were not able to push the price past this level.
Cryptos price heat map, Source: Coin360
The border crypto market is under bearish pressure today. The majorit…
The post Binance Coin Forms a Bearish Divergence as Market Weakness Continues appeared first on Coin Edition.
See original on CoinEdition
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