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Binance Coin Technical Analysis: BNB/USD cracks $23 with a massive 8% breakout

  • BNB/USD is currently trading at $22.95 after a slight pullback from $23.
  • The digital asset is surging thanks to a few positive announcements from Binance like the staking of BNB.
Binance Coin Technical Analysis: BNB/USD cracks $23 with a massive 8% breakout
Lorenzo StroeLorenzo StroeIndependent Analyst

BNB has been lagging behind other coins but thanks to a few Binance announcements the digital asset has reawakened again. BNB peaked at $23.3 after a surge above the daily 12-EMA.

BNB/USD daily chart

BNBUSD

The daily chart was practically in a downtrend, however, bulls managed to defend the daily 26-EMA several times in a row and they finally got a breakout. The only resistance level nearby is $23.54 the high of August 5 followed by $27.19, the 2020-high.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
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