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MarsSignals
Feb 20, 2024 5:57 PM

BNBUSDT 

Binance Coin / TetherUSBinance

Description

Based on the given market data, the Binance Coin (BNB) is currently trading at $348 against USDT. The Relative Strength Index (RSI) for 4 hours, 1 day and 7 days are 44.49, 75.01, and 76.11 respectively. This indicates that the coin is in a neutral zone in the 4-hour interval, but is overbought in the 1-day and 7-day intervals.

The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day and 7 days are 1.5, 13.5 and 23.5 respectively. This suggests a bullish trend in the market as the MACD is above zero in all intervals.

The Bollinger Bands (Bb) for 4 hours, 1 day and 7 days are 361.0, 366.0 and 366.0 respectively. The current price is below the middle band in all intervals, indicating a potential upward movement.

The support levels for 4 hours are $344, $331, and $326, whereas for 1 day they are $339, $325 and $304, and for 7 days they are $284, $263 and $222. The resistance levels for 4 hours are $358, $368, and $379, whereas for 1 day they are $367, $378 and $386, and for 7 days they are $367, $401 and $454.

In conclusion, the technical analysis indicates a bullish trend for BNB. However, the overbought conditions suggested by the RSI for 1 day and 7 days might trigger a price correction in the short term. As always, it's essential to consider these indicators in conjunction with other factors and your individual risk tolerance.
Comments
behdark
Will the price reach 314.1?
srmustafabas
You should also look at the weekly RSI. The first correction may come at least around 430.
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