BUSD USDT Binance USD Technical Analysis

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By Frans van Elst

Binance USD logo In this Binance USD technical analysis, we will examine the current price action, trading volume, key levels and indicators for BUSD-USDT. Binance USD (BUSD) is a stablecoin pegged to the value of the US dollar, offering a more stable and secure alternative to other cryptocurrencies. BUSD is issued by Paxos Trust Company, a regulated financial institution, and is available for trading on Binance, one of the world’s largest cryptocurrency exchanges. With BUSD, users can enjoy the benefits of cryptocurrency investment without the volatility associated with other digital assets.

Binance USD Price Overview:

As of May 17, 2024, Binance USD is trading at approximately 1.0003 USDT. Let’s dive into the detailed price action for BUSD-USDT:

Anticipate potential growth for Binance USD (BUSDUSDT) at 1.00 USDT through positive technical analysis, emphasizing strong support and promising indicators.

Metric Value
Open (O) 1.0007
High (H) 1.0013
Low (L) 1.0002
Close (C) 1.0003
Volume (C) 2,222,384.00
  • Open (O): The opening price for today’s trading session was approximately 1.0007 USDT.
  • High (H): Binance USD reached a daily high of around 1.0013 USDT.
  • Low (L): The daily low for BUSD-USDT was approximately 1.0002 USDT.
  • Close (C): At the time of analysis, Binance USD is trading near its daily close of 1.0003 USDT.
Metric Value
1D Change (%) -0.05%
3D Change (%) -0.45%
7D Change (%) 0.07%
30D Change (%) 0.03%
90D Change (%) 0.04%
YTD Change (%) -0.02%

Over the past three days, BUSDUSDT has decreased by approximately -0.45%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.07%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BUSDUSDT maintaining an upward trend of approximately 0.03%, despite intermittent fluctuations. Examining the last 90 days, BUSDUSDT has witnessed substantial rise of approximately 0.04%, reflecting strong long-term confidence. Year-to-date, BUSDUSDT has steadily decreased by around -0.02%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Binance USD Live Chart:

You can access a live price chart for BUSD-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 0.01906.
  • Momentum score is 0.0011.

BUSD USDT Technical Analysis

Binance USD Trading Volume:

The trading volume for Binance USD (BUSD) over the past 24 hours has been insignificant, with approximately 2,222,384.00 USDT traded against BUSD. 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): BUSD is currently trading above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Binance USD is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for BUSD-USDT is currently in the neutral zone, around 50.69483. This suggests that Binance USD is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Binance USD (BUSD-USDT) is currently exhibiting signs of short-term bullish 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Anticipate potential growth for Binance USD (BUSDUSDT) at 1.00 USDT through positive technical analysis, emphasizing strong support and promising indicators.

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.

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