The Tribes


Main Hall - July 11, 2022

Price analysis : BNB

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BNB failure to rise to the 50-day SMA ($257) may have attracted profit-booking from short-term traders. That has pulled the price below the 20-day EMA ($234).

BNB/USDT daily chart. Source: TradingView

If the price sustains below the 20-day EMA, the BNB/USDT pair could once again drop to the strong support at $211. This is an important level to keep an eye on because a strong bounce off it will indicate accumulation on dips.

The bulls will then make another attempt to push the price above the 50-day SMA. If they succeed, it will signal that the pair may have bottomed out. This positive view could invalidate if the price breaks below $211.