The Tribes


Main Hall - July 15, 2022

Price analysis : BNB 15th of July 2022

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BNB rebounded off the strong support at $211 on July 13, indicating that bulls are buying the dips to this level. The relief rally broke above the 20-day EMA ($233) on July 14 and the bulls will attempt to push the price to the 50-day SMA ($250).

BNB/USDT daily chart. Source: TradingView

The 20-day EMA has flattened out and the relative strength index (RSI) is in the positive territory, indicating that bulls are on a comeback. A break and close above the 50-day SMA could increase the likelihood that the BNB/USDT pair has bottomed out at $183. That could start a northward march toward $300.

Alternatively, if the price turns down from the 50-day SMA and slips below the 20-day EMA, the pair could drop to $211. That may keep the pair range-bound between $211 and $250 for a few more days. A break and close below $211 could clear the path for a possible retest of the critical support at $183.