BNB May Retrace Lower at 256.60, TAMA Goes Live on OKX

The attempt of BNB/USD price action to correct upward has been met with a setback.  At this point, it’s now likely that the price will retrace lower to 256.60, before correcting upwards.

Binance Coin Analysis Statistics Data:
BNB’s value now: $276
BNB’s market cap: $44.95 billion
Binance’s moving supply: 32.24 billion
The overall supply of Binance: 161.34 billion
BNB’s Coinmarketcap ranking: #5

In today’s speculation, we shall examine the BNB/USD market, and we will extend our scope to the BNB/BTC market. This will be done with the hope of finding suitable entry points and better market navigation in this inter-related markets.

Crucial Price Marks:
Resistance Marks: $276, $300, $330
Support Marks: $250, $230, $200

BNB Bulls May Loose Strength, TAMA Goes Live on OKX

Since price action paused on its way downwards around $265.60, buying activity resumed in the BNB/USD market, and attempted to push the price to $282. Consequently, price action has now been caught in between the 9 and 21-day Moving averages. At this point, we will likely witness a minor downward retracement towards the 265.60 Fibonacci level. To substantiate this downward correction the Stochastic RSI displays a minor correction in the direction of the faster RSI line, while under the 50% level. Traders can anticipate this level as a buying point, as the price may rally from here.

Binance Price Speculation: BNB/BTC as Well May Retrace Downwards

Going by the last candle on the BNB/BTC, it is logical for us to anticipate a downward retracement. We can see a Doji as the last candle here on this chart. Furthermore, the RSI has reached the 99.91% level, and at this point, we might witness some downward retracement.

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Additionally, traders can expect Binance Coin price to range sideways within the price range of 0.014912 and 0.013564. Therefore, long-term traders who had bought this pair at the 61.80 Fibonacci level may go shot.

In other altcoin news Tamadoge, a deflationary meme coin and ERC-20 token, will have its initial coin offering (IDO) on OKX. TAMA is set to list at $0.03 on Sept 27th.”

Read more: 

• BNB Showing Decent Optimism, Massive Gains on TAMA
• Dash Price Prediction for Today, October 22: DASH Is Range-Bound Within $42 and $39 Levels