BNB is still influenced by the negative news surrounding Binance exchanger. CFTC charges are still in the spotlight of market interest and its potential impact on further business of the Binance. Until this dispute is finally resolved, BNB`s price will be suppressed, without much moves to either side. It is positive that the price manages to hold above the $300 support line, however, charts are showing potential for further pressure to the downside.
The price of the coin did not move much during the previous week. Lowest level reached was 299 but only on one occasion, after which, the coin returned to previous levels, oscillating around 310 level. Major development during the previous week was with the RSI indicator, which crossed the 50 line and headed toward the oversold side of the market. The indicator ended the week at level of 47. Moving averages of 50 and 200 days continue to move as two parallel lines and still holding the Golden cross occurred some time ago.
As already mentioned, due to negative news about Binance exchanger, the price of BNB will be suppressed during the forthcoming period of time. If current 310 level continue to hold then the price might shortly test $320. On the opposite side, support line at $300 might be also tested again.
The price of the coin did not move much during the previous week. Lowest level reached was 299 but only on one occasion, after which, the coin returned to previous levels, oscillating around 310 level. Major development during the previous week was with the RSI indicator, which crossed the 50 line and headed toward the oversold side of the market. The indicator ended the week at level of 47. Moving averages of 50 and 200 days continue to move as two parallel lines and still holding the Golden cross occurred some time ago.
As already mentioned, due to negative news about Binance exchanger, the price of BNB will be suppressed during the forthcoming period of time. If current 310 level continue to hold then the price might shortly test $320. On the opposite side, support line at $300 might be also tested again.
