In this BNB technical analysis, we will examine the current price action, trading volume, key levels and indicators for BNB-BTC. BNB is a popular cryptocurrency that serves as the native token of the Binance exchange ecosystem. It offers users various benefits such as discounted trading fees and access to exclusive features on the platform. With its growing adoption and increasing use cases, BNB has established itself as a prominent player in the crypto market.
BNB Price Overview:
As of May 16, 2024, BNB is trading at approximately 0.00865 BTC. Let’s dive into the detailed price action for BNB-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00878 |
| High (H) | 0.00888 |
| Low (L) | 0.00863 |
| Close (C) | 0.00865 |
| Volume (C) | 48,459.57 |
- Open (O): The opening price for today’s trading session was approximately 0.00878 BTC.
- High (H): BNB reached a daily high of around 0.00888 BTC.
- Low (L): The daily low for BNB-BTC was approximately 0.00863 BTC.
- Close (C): At the time of analysis, BNB is trading near its daily close of 0.00865 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.48% |
| 3D Change (%) | -8.04% |
| 7D Change (%) | -8.60% |
| 30D Change (%) | 2.57% |
| 90D Change (%) | 25.07% |
| YTD Change (%) | 17.22% |
Over the past three days, BNBBTC has dropped by approximately -8.04%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -8.60%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BNBBTC maintaining an upward trend of approximately 2.57%, despite intermittent fluctuations. Examining the last 90 days, BNBBTC has witnessed substantial rise of approximately 25.07%, reflecting strong long-term confidence. Year-to-date, BNBBTC has steadily increased by around 17.22%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
BNB Live Chart:
You can access a live price chart for BNB-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.32143.
- Momentum score is -0.09056.
BNB BTC Technical Analysis
BNB Trading Volume:
The trading volume for BNB (BNB) over the past 24 hours has been significant, with approximately 48,459.57 BTC traded against BNB. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BNB is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): BNB is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BNB-BTC is currently in the neutral zone, around 48.07356. This suggests that BNB is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
BNB (BNB-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Follow potential bearish trend for BNB (BNBBTC) at 8.65e-03 BTC with technical analysis, indicating cautionary indicators and weakened support.
Don’t skip our thorough exploration of BNB USDT BNB Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.