Price action in the Binance Coin market broke the $320 resistance level to the upside to reach above the $350 price level. Subsequently, Sellers started taking profits by going shot, consequently this caused prices to retrace downwards significantly. Nevertheless, this market must be further examined for any profitable impetus.
Binance Coin’s Forecast Statistics Data:
BNBs price: is $281.20
Binance Coins market capitalization: $11.99 billion
BNB circulating supply: 34.36 billion
Binance Coin overall supply: 35.12 billion
BNB Coinmarketcap ranking: #5
Important Price Marks:
Resistance Marks: $300, $320, $350
Support Marks: $281, $265, $250
Binance Coin Price Prediction Today, November 13, 2022: Bears Taking Out Moderate Gains in BNB/USD
BNB/USD recently gathered some decent gain. But no sooner than the profit was recorded did some more Traders took opportunity to go shot. Nevertheless, the mounting selling pressure hasn’t been able to wipe out all the recently gathered profit. However, at this point price action has fallen below the 9 and 21-day moving averages to indicate a downtrend in this market. Consequently, Traders can anticipate that price will retrace to the previous support at $265.80. Although the MACD indicator stays above the 0.00 level, it has taken a downward bearing to portray a downtrend in this market. Unless strong buying resumes in this market, Binance Coin will fall to $265.80.
Binance Coin Price Prediction Today, November 13, 2022: BNB/BTC Retraces Lower
The BNB/BTC market has been trading in a slanted upward path for a considerable length of time. However, very recent happenings in the Binance Coin versus Dollar market have extended their effect to this related market. Price action started retracing support two sessions ago. However, price activity stays above the 21-day MA but slightly below the 9-days MA. Also, the RSI is still pointing downwards to indicate a price downtrend. It is imperative to note that price action in both BNB and BTC markets is one of the main factors dictating market direction. Therefore, it is essential for Traders here to monitor development in these markets too for price directions. Nevertheless, we can expect the price to retrace near 0.016000.