BNB price analysis for 26 September 2022

BNB price analysis for 26 September 2022, BNB, the third largest cryptocurrency based on market cap, is in a downtrend since November 2021. The downtrend broke in August but the 50 weekly SMMA stood as resistance. On the first day of this week, it seems that sellers take control of the price based on the weekly Heikin Ashi Candlestick. The weekly MACD is negative with a positive histogram and the RSI is still under 50.

BNB price analysis on the Daily Chart 26 September 2022

By diving into the daily timeframe, the price fluctuates in a downtrend below the 50 SMMA line ($286.3). The price remains significantly stable as the pressure balances between buyers and sellers.

The TFLOW Beta Algo has already generated a Short signal and two TP signals as the buyers keep the price above $260.

The Daily MACD indicator is negative with a positive histogram.

The Daily RSI fluctuates below 50.

In the 4-hour chart, BNB drop below the 50 SMMA ($276.2). The Volume Profile indicator determines $277.4 as a strong trading area.
The 4-hour MACD is positive but the MACD line cross under the signal line. The 4-hour RSI fluctuates below 50.

Conclusion

The price of BNB forms a bearish momentum in a medium-term scale as the technical analysis and the indicators coincide. In the short-term scale, we observe that sellers are relatively stronger than buyers as the price fails to surpass major resistance areas.

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