Binance Coin (BNB) Steady at $415 – 16 April Price Analysis

Binance Coin (BNB) Steady at $415 – 16 April Price Analysis

April 16, 2022 0 By Richard Madera
  • BNB highlights bearishness today.
  • The sturdy support sits at $411.9.
  • Binance Coin’s resistance stands at $456.4.

Binance Coin’s price outlook reveals bearish tendencies with more consistent opportunities. Bears dominate the alt’s marketplace and seem to keep their momentum. That way, enthusiasts can expect further devaluation in the upcoming days. Meanwhile, BNB can see a bearish regime soon. Moreover, the alt plunged from $426 to the $412 mark.

Binance Coin exhibits downside price movements around the $415 level. That alt sustains bearishness, losing 0.12% over the past 24hrs. Its trading volume hovers at $1,105,340,612, BNB ranking 4th in the crypto list by value (CoinMarketCap data)

BNB/USD 4Hr Price Analysis – Recent Developments

For now, BNB reflects negative price actions as the token sustains downside trends. Also, the market’s volatility shows Binance Coin less vulnerable to a volatile shift to either extreme as the market enters a squeeze. The Bollinger band’s upper limit at $411, acting as BNB’s support.

BNB/USD hovered below the MA curve, showing a bearish trend for the pair. Nevertheless, the market sees reduced volatility today. Meanwhile, the asset’s price appears to move to the MA, reflecting a potential reversal move that can be a silver lining for BNB.

The Relative Strength index reads at 47, translating to a stable coin. Moreover, the indicator’s reading sees a slight upside, showing buying activity exceeding selling pressure as BNB heads towards unwavering dynamics.

BNB 24-Hour Analysis – Market Opens

Binance Coin price endured bearish actions over the past few days. Moreover, the crypto wavers with volatile change as volatility stays dormant. That means BNB is less vulnerable to variable changes at the moment. Meanwhile, Bollinger’s upper limit stood at $456, acting as a significant resistance for the altcoin. Contrarily, the band’s lower limit at $43 serves as BNB’s dependable support.

BNB seems to cross beneath the MA curve, suggesting bearishness. On the other part, the market shifts towards a linear move as Binance Coin favors steady dynamics. The RSI score read at 49, stability for the token. The indicators stayed at the mid-neutral area. Nevertheless, stable RS shows selling pressure equaling buying momentum.

Final Thought

BNB price outlook reveals bearish tendencies with lucrative potential to record massive reversals in the upcoming days. Bears dominate and may engulf the marketplace for the long term with bulls failing to react ASAP. For now, bears seem prepared to consume the entire market if BNB breaks the vital support. Meanwhile, steady dynamics show the market can shift to bullish.

Editorial credit: Chinnapong /