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Binance Coin Technical Analysis: BNB/USD struggling to beat $19 but remains bullish

  • After a notable rally towards $19 on July 13, BNB started consolidating.
  • BNB defended the daily 26-EMA and bounced back up but got rejected at $19 again.
Binance Coin Technical Analysis: BNB/USD struggling to beat $19 but remains bullish
Lorenzo StroeLorenzo StroeIndependent Analyst

This latest rejection from BNB could mean a crash is imminent but only if the bears get enough continuation. So far, the daily 12-EMA remains as the most important support level, located at $17.82. Binance Coin price is currently at $18.35, so not that far away. 

BNB/USD daily chart

BNBUSD

The rejection doesn’t change much in the short-term as the daily uptrend remains intact. The RSI has cooled off while the MACD continues bullish. BNB could establish a higher low compared to $16.54 and create a daily equilibrium pattern which would benefit the bulls in the current situation.

BNB/USD 4-hour chart

bnbusd

The rejection isn’t a problem for now as bulls are defending the 12-EMA on the 4-hour chart. 

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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