BNB’s Range Remains above $860

The BNB (BNB) price has moved upward after breaking above the 21-day SMA barrier.

BNB price long-term prediction: bullish

Since December 3, the cryptocurrency price has traded above the 21-day SMA support but below the 50-day SMA. The bullish momentum has paused at the $928 high, having retraced above the 21-day SMA support.

On the upside, if BNB rises and breaks through the $928 resistance level, it will surge above the 50-day SMA or the $948 high. However, if the bears push the price below the 21-day SMA support, BNB will face renewed selling pressure. The altcoin could drop to a low of $820. BNB is currently worth $889.80.

BNB price indicators reading

Since December 3, the cryptocurrency price has remained caught between the moving average lines. The formation of Doji candlesticks has caused price movement to remain static within its defined range. BNB price bars are below the horizontal moving average lines, indicating sideways movement.

What is the next direction for BNB/USD?

On the 4-hour chart, BNB is trading in a tight range above the $860 support and below the $940 high resistance. The crypto price is rising but is encountering resistance at the moving average lines. A break above the moving average lines will push the altcoin to its previous high of $928. If the $928 barrier is breached, BNB will continue its positive trend.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.