In this BNB technical analysis, we will examine the current price action, trading volume, key levels and indicators for BNB-USDT. BNB is a popular cryptocurrency that serves as the native token of Binance Smart Chain, one of the largest and most widely used blockchain platforms in the world. It enables users to pay for transaction fees on the platform, access various financial services, and participate in decentralized governance. With its fast and secure transactions, BNB has become a go-to cryptocurrency for traders and investors alike.
BNB Price Overview:
As of July 05, 2024, BNB is trading at approximately 489.7 USDT. Let’s dive into the detailed price action for BNB-USDT:
| Metric | Value |
|---|---|
| Open (O) | 513.5 |
| High (H) | 516.1 |
| Low (L) | 454.8 |
| Close (C) | 489.7 |
| Volume (C) | 893,653.15 |
- Open (O): The opening price for today’s trading session was approximately 513.5 USDT.
- High (H): BNB reached a daily high of around 516.1 USDT.
- Low (L): The daily low for BNB-USDT was approximately 454.8 USDT.
- Close (C): At the time of analysis, BNB is trading near its daily close of 489.7 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.65% |
| 3D Change (%) | -15.58% |
| 7D Change (%) | -13.69% |
| 30D Change (%) | -29.92% |
| 90D Change (%) | -16.35% |
| YTD Change (%) | 57.01% |
Over the past three days, BNBUSDT has declined by approximately -15.58%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -13.69%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BNBUSDT maintaining a downward trend of approximately -29.92%, despite intermittent fluctuations. Examining the last 90 days, BNBUSDT has witnessed substantial drop of approximately -16.35%, reflecting strong long-term confidence. Year-to-date, BNBUSDT has steadily increased by around 57.01%, 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-USDT 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 0.39098.
- Momentum score is -0.1883.
BNB USDT Technical Analysis
BNB Trading Volume:
The trading volume for BNB (BNB) over the past 24 hours has been significant, with approximately 893,653.15 USDT 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-USDT is currently in the low zone, around 36.8891. This suggests that BNB is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
BNB (BNB-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Consider bearish sentiment for BNB (BNBUSDT) at 489.70 USDT as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.
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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.