BNB: Can bulls rally, or will bears extend control?


19 Sep 2023 4:30 PM

On-chain metrics lean toward bulls gaining the upper in the short term, as BNB's price continues to range between critical price levels. ...

  • BNB has been trading sideways for over three weeks, unable to break above the $220-$225 resistance level.
  • The Relative Strength Index (RSI) shows oscillating momentum for BNB.
  • On Balance Volume (OBV) suggests two scenarios: a bullish breakout above $220 or a bearish rejection towards the $205 support level.
  • Open Interest data indicates muted interest in new futures positions, but a small price increase for BNB.
  • Spot CVD rising since September 16 indicates a bullish bias returning to BNB.

The sentiment of the article is neutral, discussing the current market situation and potential scenarios for BNB.

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You May Ask

What has been the price movement of BNB in recent weeks?What is the resistance level that BNB has been unable to break above?What does the Relative Strength Index (RSI) indicate about BNB's momentum?What are the two scenarios suggested by the On Balance Volume (OBV) for BNB's price movement?What does the Open Interest data reveal about market interest in BNB futures positions?

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