Binance Coin Technical Analysis: BNB/USD sees a strong bounce from daily 26-EMA and it’s eying up $24 again
|- BNB/USD is up by more than 5% in the last few hours after defending the daily 26-EMA two times in a row.
- BNB is back trading above the daily 12-EMA as well and eying up $24.
Binance Coin had a significant drop on August 11 down to $20.6. Bulls defended the 26-EMA but didn’t see any continuation, on the next day, BNB dropped again lower than the EMA but managed to recover and bounce back above both EMAs.
BNB/USD daily chart
After a healthy consolidation period, BNB seems to be ready to jump into its bullish action again eying up $24 and eventually $27.19, the 2020-high.
BNB/USD 4-hour chart
In the 4-hour chart, bulls are trying to push BNB above the 26-EMA but the downtrend is still intact unless BNB can see a breakout above $22.76.
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