The BNB price continued to rise after breaking out of its sideways pattern.
The altcoin has been trading sideways since its high of $861 on July 28, as Coinidol.com reported.
BNB price long-term prediction: bullish
Today, the bullish momentum has surpassed the recent barrier, and reached a high of $900. The uptrend has begun, with the BNB price retracing above the 21-day SMA support and moving higher. If the bulls break through the $900 mark to the upside, BNB will rise to a high of $1,017. The current uptrend has reached a high of $872 at the time of writing.
BNB price indicators analysis
The BNB price has continued to rise as the 21-day SMA provides support. Both charts show price bars above the moving average lines, indicating an uptrend.
However, the BNB price will decline if the bears break the 21-day SMA support. Candlesticks show extended wicks at the $900 resistance level. BNB is under heavy selling pressure at its recent high.
Technical indicators:
Key Resistance Levels – $800, $850, $900
Key Support Levels – $600, $550, $500
What is the next direction for BNB/USD?
BNB is growing but moving sideways between $830 and $900. The altcoin is on track to surpass its previous high of $900. Long candlestick wicks can be seen at the recent high, as the altcoin continues its uptrend towards the previous high.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
