BNB Price Analysis – February 10
Binance Coin (BNB) remains on the positive side as the cryptocurrency market faces the north.
Resistance levels: $160, $170, $180
Support levels: $85, $75, $65
BNB/USD price is now trading close to $160 after touching $150.85 resistance in the early hour of today. The price of Binance Coin may continue to follow the uptrend if the price remains above the upper boundary of the channel once again. Meanwhile, Binance Coin may create another bull-run as the price could further touch the higher resistance levels.
What to Expect from Binance Coin (BNB)
BNB/USD trading pair has maintained an uptrend since the beginning of this month. Moreover, as the technical indicator RSI (14) moves within the overbought region, once it faces down, there is a higher chance that BNB/USD may likely find supports at $85, $75, and $65 but the upside may remain capped at $160, $170, and $180 respectively.
BNB/BTC Market: Price Remains at the Upside
When compares with BTC, the BNB price has been rising but and there’s a high amount of buying pressure in the market which helps the coin to touch the daily high of 3185 SAT. At the moment, the Binance Coin price remains above the 9-day and 21-day moving averages.
Moreover, if the bears try to break down the price, one would expect the market to fall to the support level of 2200 SAT and below. Meanwhile, a bullish continuation above the upper boundary of the channel may likely push the price to the resistance levels of 3200 SAT and above respectively. Once this scenario is done, the market will continue to respect the upward movement as the technical indicator RSI (14) stays within the overbought region.