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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 Technical Analysis: BNB/USD sees a strong bounce from daily 26-EMA and it’s eying up $24 again
Lorenzo StroeLorenzo StroeIndependent Analyst

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

BNBUSD

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

bnbusd

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.

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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