BNB Demonstrates Resilient Stability, Maintains Range-Bound Movement Above $230

BNB Price Long-Term Forecast: Fluctuation Range

However, the price change was limited to the range of $230 to $250. On August 1, the price of BNB corrected upwards and was rejected at the high of $247. The next day, August 2, it fell to a low of $236.

The price has been moving in this manner since July 16. The appearance of doji candlesticks has limited the price movement both up and down. At the time of writing, BNB is trading at $242.10.

BNB Indicator Display

The price of BNB is stabilizing at the 49 level of the Relative Strength Index for the 14-month period. This shows that supply and demand have reached an equilibrium point. The price bars oscillate below and above the moving average lines. The altcoin is currently in an uptrend above the daily stochastic threshold of 40.

Technical Indicators:

  • Key resistance levels – $300, $350, $400
  • Key support levels – $200, $150, $100

What is the Next Direction for BNB/USD?

Doji candlesticks are in place, and BNB is expected to continue moving within its range. It is currently trading above the lowest price range. If the $242 high or the moving average lines are rejected, the decline could resume.

Leave a Reply

Your email address will not be published. Required fields are marked *