BNB – ALTCOIN CHART ANALYSIS

BNB has not moved much recently. We are still in a large sideways phase without any real upward impetus. We are currently trading at around USD 398 and are therefore still below the 4H-EMA ribbons.

Recently we have seen a slight increase in volume on the smaller timeframes. However, this volume peak was immediately sold off again. Since then this has decreased again.

The first goal must be that we break through the ribbons to the top and take out the last high at around USD 412. There is also the 200-EMA as additional resistance.

Although we are in a clear short-term downtrend on the daily chart, which is supported by lower lows and lower highs, we have broken the downtrend overall.

With the pump at the beginning of April we were able to take out the last high. Now it becomes important that we do not form a lower low at around USD 360. Then the downtrend would be intact again.

So for now we can expect to form a higher low. First of all, this is bullish. It must be important that we can take out the high at around USD 460 in the near future and thus form a new uptrend.

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