BNB is a token launched in 2017 of the biggest cryptocurrency exchange, globally. Binance has increased its network by including Binance Chain, Binance Academy, Trusted Wallet, and Research Reports of companies and their tokens. Let us look at the BNB technical analysis for the same. Past Performance On July 02, 2021, BNB started trading at $303.53. As of July 08, 2021, the closing price of BNB was $310.43. Thus, in the past week, the BNB price has been very less volatile. In the last 24 hours, BNB has traded between $301.83 – $320.71. https://ift.tt/3k890DM Day Ahead And Tomorrow Currently, BNB is trading at $309.83. The price has shown some bearish signs as it has slightly decreased from the opening price of $310.43. Thus, indicating a high selling pressure in the market. Since the crash of May 19, the MACD and signal lines have been in the negative zone. However, since then, the price has broken a lot of resistance levels. Now, it is near the zero range, therefore, we can expect the lines to enter the positive zone on a highly volatile day. Although, on a daily level a bearish crossover by the MACD line over the Signal line has occurred. Indicating the bearish momentum in the market, also the selling pressure is slowly mounting. Currently, the RSI indicator is at 46.78%. It has fallen from the 53% mark, which is a strong resistance zone for the RSI. A break up from this level will eventually be a trend reversal. However, for the rest of the day, we can expect a short pullback in the price level. BNB Technical Analysis The current price of BNB is below the pivot point of $323.30. As the indicators are predicting bearish signals, we can expect the price to fall and test the first Fibonacci pivot support level of $285.36 soon. Once the price breaks down from the support zone, traders can go short with a target of $259.25. Traders can also try to scalp between these levels.
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