Binance Coin Price Analysis – 1 March 2023

Binance Coin Price Analysis – 1 March 2023 is hosted by BNC’s Josh Olszewicz.

First things first, follow or copy our publicly traded fund on Enzyme
https://app.enzyme.finance/fund/0xded69068a94776a23f5bdafc6b4c6894bc88e82c/overview

And now, the technicals. Josh finds on the BNB/USD daily chart, the 50-day and 200-day Exponential Moving Averages (EMAs) have been bullishly crossed since late July 2023. Both the 50-day EMA, at US$140, and 200-day EMA, at $65, should now act as support. Very little volume support (horizontal bars) exists until the US$22 zone, with support in the US$12-16 zone and the US$10 zone.

Turning to the Ichimoku Cloud, four metrics are used to indicate if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best entry always occurs when most of the signals flip from bearish to bullish, or vice versa.

Daily Cloud metrics, with doubled settings (20/60/120/30) for more accurate signals, are currently bullish; the spot price is above the Cloud, the Cloud is bullish, the TK cross is bullish, and the Lagging Span is above Cloud and above price. The trend will remain bullish as long as the spot price is above the Cloud. Kijun support currently sits at US$200.

Both the BNB/BTC and BNB/ETH charts show bullish trend metrics with prices above their respective 200-day EMAs and daily Cloud. Any higher highs on both pairs will likely be met with high timeframe bearish divergences, suggestive of weakening bullish momentum. Support for the BNB/BTC pair, based on Cloud, yearly pivots, and VPVR, sits at 0.004 BTC. Support for the BNB/ETH pair, based on Cloud, yearly pivots, and VPVR, sits at 0.1 ETH.

Read Price Analysis for all crypto coins here
https://bravenewcoin.com/insights/price-analysis

Binance Coin Price Analysis – 1 March 2023

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Kane Dane