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 has gained significant attention due to its fast transaction times and low fees. It is the native cryptocurrency of Binance, one of the largest cryptocurrency exchanges in the world. BNB has a fixed supply of 100 million coins, which helps to maintain its value and prevent inflation.
BNB Price Overview:
As of October 02, 2023, BNB is trading at approximately 0.0077 BTC. Let’s dive into the detailed price action for BNB-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0078 |
| High (H) | 0.00788 |
| Low (L) | 0.00767 |
| Close (C) | 0.0077 |
| Volume (C) | 30,629.41 |
- Open (O): The opening price for today’s trading session was approximately 0.0078 BTC.
- High (H): BNB reached a daily high of around 0.00788 BTC.
- Low (L): The daily low for BNB-BTC was approximately 0.00767 BTC.
- Close (C): At the time of analysis, BNB is trading near its daily close of 0.0077 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.28% |
| 3D Change (%) | -3.74% |
| 7D Change (%) | -3.58% |
| 30D Change (%) | -7.15% |
| 90D Change (%) | -2.33% |
| YTD Change (%) | -48.30% |
Over the past three days, BNBBTC has fallen by approximately -3.74%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -3.58%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BNBBTC maintaining a downward trend of approximately -7.15%, despite intermittent fluctuations. Examining the last 90 days, BNBBTC has witnessed substantial decrease of approximately -2.33%, reflecting strong long-term confidence. Year-to-date, BNBBTC has steadily declined by around -48.30%, 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 0.12891.
- Momentum score is -0.07153.
BNB BTC Technical Analysis
BNB Trading Volume:
The trading volume for BNB (BNB) over the past 24 hours has been significant, with approximately 30,629.41 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 low zone, around 37.81308. This suggests that BNB is in bearish 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 low RSI and significant trading volume are low signals for potential downward movement.
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.
