BNB price analysis 26 July 2019; BNB nearing oversold region

The recent four days for BNB have not been the best. Binance‘s signature cryptocurrency has been on a steady decline ever since the hype from the token burn died down more than a week ago.

Because of this, nearly every part of the BNB price analysis is indicating another bearish sentiment for the mid-term and short-term ranges alongside BNB nearing the oversold area quite fast.

BNB price analysis

BNB chart by Trading View

Unfortunately, BNB has already passed the $29 crucial support level and is heading down to newly formed ones at $28 and $26.

With the way most of the market is trading in a pattern these past days, by having a bearish trap at BTC $9,800 it’s expected that another surge will happen by Monday.

Weekends are always quite volatile for BTC, which automatically translates into BNB as well. There is potential for BNB to reach $29 once again over the weekend, but in the long term during BTC market dominance there’s very little room for growth.

In fact, it’s expected for BNB price to remain frozen during serious BTC consolidation. Compared to the drop that will happen for altcoins during that time BNB seems to have the healthiest future, but not in terms of growth, but for simply not decreasing too much.

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