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Analysis of the price of Binance Coin (BNB) 04/29/2020

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BNB, the native cryptocurrency of the Binance exchange currently has it above $ 17.14 after giving a movement today of approximately 6.8% from $ 16.30. We are reaching a key area where the price must decide whether to continue rising or start a price correction from here.

On the one hand we have an upward trend line where the price could rebound again as it has been doing since the beginning of the momentum on March 16, on the daily chart you can see that we have already had about 4 touches on this line, so that we could consider that the price is taking it into account as a fulcrum.

We also have an EMA of 200 periods which is key at the moment and would mark the beginning of a new impulse or the end of the one we are seeing today. Above $ 17.15 there is an important resistance that coincides with this EMA, if the price achieves break it with force we would go to look for levels close to 17.60 on the R2 of the week.

We hardly have an entry signal, it could be at the break and close above the EMA but still carries a high risk, it is best to wait for correction and catch a rebound.



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