BNB Halts Below the $920 Threshold

The BNB price has remained above the $800 support level since November 21.

BNB price long-term prediction: ranging

The cryptocurrency is trading above the $800 support and below the $920 resistance level. Buyers kept the price above the 21-day SMA but were unable to sustain positive momentum above the $920 resistance.

On the upside, resistance near $920 has slowed the price increase. On the downside, the bulls are defending the current support at $800. BNB is expected to remain within this range for a few more days. BNB price is currently at $831.

Technical indicators:

• Resistance Levels – $1,000, $1,050, $1,200
• 
  Support Levels – $900, $850, $800

BNB price indicator reading

The cryptocurrency price fluctuates both below and above the horizontal 21-day and 50-day SMAs. BNB price bars are represented by Doji candlesticks, causing the price to remain range-bound. On the 4-hour chart, the price bars are below the downward-sloping moving average lines.

What is the next direction for BNB/USD?

The BNB price will continue to move sideways as long as the $800 support holds. On the 4-hour chart, the price bars are below the moving averages. The price bars have paused above the current support level as the altcoin attempts to resume its bullish movement. Buyers have been unable to sustain the price above the moving average lines since the $1,200 high.

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.