The price has risen back above $83.65 and is likely to retest the breakdown level of the channel.
We anticipate a stiff resistance at the 20-day EMA. If the price turns down from the 20-day EMA and breaks below $76, the decline can extend to $66.47.
The previous recovery attempt fizzled out at $325.75 on July 15.However, bulls held the support line of the descending channel on July 16 and are currently attempting to push the price back above $325.75 once again.
BNB/USDThe bulls are trying to keep Binance Coin inside the descending channel because if the price breaks down and closes below the support line of the channel, it can drop to the next support at $18.30.Currently, the BNB/USD pair has bounced sharply from the support line of the channel.
The buyers will attempt to propel the price back above the uptrend line, which will be a positive sign.
If the price can sustain above the uptrend line, it will invalidate the current breakdown.
If the price rebounds from the current levels and climbs above $0.085, it can move up to 20-day EMA. If the next dip stays above $0.08-$0.085 support zone, it will indicate strength and a probable range formation.
If the price fails to sustain above $0.022, the fall can extend to $0.01774.
Conversely, if the price closes above $0.022, it can move up to the 20-day EMA, which is likely to act as a stiff resistance.
The bulls need to push the price above the downtrend line to signal a trend change.
Price Analysis 17/07: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, TRX
gepubliceerd op Jul 17, 2019
by Cointele | gepubliceerd op Coinage
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