Category: Forex News, News
Binance Coin price tests downward trend line – Forecast today
Binance Coin’s currency price rose in latest intraday trading and tested the main downward trend line in the short term, while also bumping into the resistance of the 50-day SMA, doubling the strength of this region as a barrier against the price, with negative signals from the Stochastic after reaching overbought levels compared to the price’s movements, hinting at negative divergence.
Therefore we expect the price to return lower and target the support of $568.90, provided the resistance of $613.10 holds on.
Today’s price forecast: Bearish
Do you need help in trading decisions? Do you want to learn how to start trading?
Join Economies.com VIP Club and benefit from over 15 years of market analysis expertise and get:
- Full coverage of commodities such as gold, oil, silver, and more
- Full coverage of all major forex currency pairs
- Full coverage of key global indices and stocks
- Full coverage of major cryptocurrencies and meme coins
- Accurate analysis and daily updated price forecasts
- Exclusive and breaking news
- Reliable trading ranges for effective risk management
- Comprehensive educational materials, competitions and prizes!
- Innovative tools to enhance your trading performance
Special Offer: Subscribe to the Economies.com VIP channel and get also a free subscription to a trusted trading signals channel provided by Best Trading Signal.
Written by : Editorial team of BIPNs
Main team of content of bipns.com. Any type of content should be approved by us.
Share this article: