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Binance Coin Technical Analysis: BNB/USD remains strong despite overall market weakness

  • The crypto market has been a bit weaker in the past week, however, BNB remains high.
  • BNB/USD is trading at $22.26, keeping most of his gains and holding the daily uptrend.
Binance Coin Technical Analysis: BNB/USD remains strong despite overall market weakness
Lorenzo StroeLorenzo StroeIndependent Analyst

Binance Coin is doing far better than the rest of the market. XRP is down 7% while Bitcoin and others are down 2-4%, however, BNB is still strong and has remained flat today. 

BNB/USD daily chart

BNBUSD

The daily uptrend is still intact and BNB seems to be forming an equilibrium pattern with a clear lower high at $20.98 and a possible lower high being formed now. The 12-EMA is currently acting as resistance and the 26-EMA as a support level. Anything above $20.57 is still mildly bullish for BNB. The most important resistance level stands at $24.

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.

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