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Analysis of the price of Binance Coin (BNB) 04/24/2020

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In our previous analysis we suggested that the price could go looking for levels below $ 14.67. Back then we were seeing a small bounce on the 200-period EMA but it didn't seem like a good entry point to buy considering the downtrend we were witnessing on the last few candles.

Although the price did not reach the levels mentioned in the first scenario, it was able to break the pivot point and consolidate above it to later give a bullish momentum. As I said before, the most risky could buy into the EMA 200 and wait for a move to or above the pivot, if they managed to enter that area they surely already have a good percentage of profit, around 9%.

Likewise if you expected breakout above the pivot and consolidation, you have also had a profit of around 3.84%. The price seems to have moved very fast as it expected a longer consolidation above the pivot point but for the moment the scenario is totally positive for the BNB cryptocurrency.

We don't have an entry signal right now until we see strong movement to the pivot point again or until the next resistance breaks at $ 16.86 and $ 17.43.

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