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Binance Coin (BNBUSD): Bears Are in Control, Tamadoge Obeying Bulls

Binance Coin (BNBUSD): Bears Are in Control, Tamadoge Obeying Bulls
Binance Coin (BNBUSD): Bears Are in Control, Tamadoge Obeying Bulls

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 Binance coin may decrease further

BNBUSD Price Analysis – August 22

When bears break down the $286 support level, price may decrease to the $256 and $209 support levels. An increase in bulls’ momentum may break up the resistance level of $330, then, Binance Coin may increase to $361 and $400 levels.

BNB/USD Market

Key levels:

Supply levels: $330, $361, $400

Demand levels: $286, $256, $209

 

BNBUSD Long-term Trend: Bearish

BNBUSD is bearish on the long-term outlook. The price reached our last week predicted level when the chart pattern called an inverted head and shoulder pattern formed. Buyers have been dominating BNBUSD market for more than three weeks. Former resistance levels of $256 and $286 have turned to support levels.  The coin struggled to break up the $330 level but could not. Bear gains more pressure and push the price below the $286 level but currently pulling back.

The price is trading below the two EMAs which indicate that sellers are dominating the Binance coin market. The fast moving EMA (9 periods) is crossing the slow moving EMA (21 periods) downside. The two EMAs are close to each other indicating a change of direction. When bears break down the $286 support level, price may decrease to the $256 and $209 support levels. An increase in bulls’ momentum may break up the resistance level of $330, then, Binance Coin may increase to $361 and $400 levels.

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BNBUSD medium-term Trend: Bearish, Tamadoge Obeying Bulls

Binance coin is on the bearish movement on the 4 hour chart.  The Binance coin tested the last week predicted target level at the resistance level of $330, after the formation of an inverted head and shoulder chart pattern. The price find it difficult to break up the resistance levels of $330. More pressure from the bears pushes the price to retest the support level of $286.

The Binance Coin is trading around the 9 periods EMA and 21 periods EMA which indicate that buyers and sellers are struggling on Binance coin market.

Tamadoge sold for 1 USDT to 100 TAMA (1 TAMA = 0.01) in the first phase, in which a beta sale of 200 million tokens were made available to the public. Since then there have been successive sale tranches of 100 million tokens. Half of the tokens on offer in the presale have now been sold. In total 1 billion TAMA tokens are up for sale, with the price rising on each occasion. TAMA has a total supply of 2 billion, so early bird buyers in the presale are able to purchase a generous 50% of supply. Tranche prices will keep rising until the price reaches $0.03, equivalent to 3 times the initial beta sale price. The next price to beat is in the sixth phase when 1 USDT buys 44.44 TAMA.

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