Binance BNB USD price analysis with interactive analytical tools to study chart patterns. Chart references Binance BNB price live from Binance exchange.
About Binance native token BNB:
The Binance coin – BNB is used to fuel the operations of the Binance exchange and its ecosystem. It supports multiple utilities on the Binance ecosystem, which includes – a payment method, a utility token to pay for fees on the Binance exchange, and for participation in token sales on the Binance Launchpad. BNB also powers the Binance DEX (decentralized exchange) launched in 2019.
Helpful technical indicators to study Binance (BNB) USD price movement:
Technical Analysis through the use of charts or volume helps to forecast future BNB price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely Binance BNB USD price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line” is then plotted in addition to the MACD line which together functions as a trigger for the Binance token – BNB – buy and sell.
Traders may buy the Binance native token – BNB – when the MACD crosses above its signal line (orange line) and sell, or short, the BNB token when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are.
Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero – Above zero for a sustained period of time, and the trend is likely up or Below zero for a sustained period of time, and the trend is likely down.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- RSI values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in the Binance (BNB) USD price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition for the BNB token.
Simple Moving average (SMA)
SMA is the average of the closing USD price of an asset – BNB over a given number of periods. The 200-day simple moving average (SMA) is one of the most-watched activities in the price chart by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the price is above the X intervals (Hour/Day) SMA, this signals a bullish movement.
- If the price is below the X intervals SMA, this signals a bearish movement.
MA(50,200) Crossover
Another important signal is a crossover between the 50-day and the 200-day moving averages.
- Essentially, a bullish crossover (the 50-day MA moving above the 200-day MA) is called a golden cross and it signals that a new bullish USD price trend for Binance token – BNB is starting.
- A bearish crossover (where the 50-day MA crosses below the 200-day MA) is known as the death cross. This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising BNB token price should be accompanied by a rising OBV; a falling BNB price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, then the price is likely to follow the OBV.
- In case Binance BNB token price against USD is rising and OBV is flat-lining or falling, the price may be near a top.
- If the BNB token USD price is falling and OBV is flat-lining or rising, the price could be nearing a bottom.
Chart Patterns
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)