Hello everyone 😃
BNB has reached the major resistance and it needs to take hold above it for final bounce before reaching ATH .
For now the current supports are :
– $478. 01
– $448.32 – $454.93
– $317.17 – $339.08
And the resistances are :
– $512.07 – $529.56
– $563.42 – $598.81
Hourly 100 is supporting BNB too, So we can count it as a potential level to bounce; But the is suggesting a correction, However this correction can be a sideway cooldown !
Cause market will follow BTC’s direction in macro view, But bulls won’t leave the 48K’s level for now to face another correction toward 44K.
So there is a possibility for BNB to go sideway for couple of days, But if BTC rejects to hold 48K , Then it will dive to retest the lower at, Which is standing near the zone !
So there will be another chance for bulls to defend their side with the logical pullback.
But both of the scenarios needs a confirmation for further movement…
What if BNB break above resistance ?
There are some major targets :
BTC needs to engulf $516.50 line before any confirmed bounce, Cause it’s acting as a master candle on 12H’s chart and the wick above is an important level to achieve !
After an engulf above the mentioned line, We’ll might face another correction before the bounce above .
If the this scenario happens, Then there will be only one weak before ATH’s resistance !
This zone is located at $563.42 – $598.81 as before mentioned above…
There is a high possibility for BNB to achieve the 2nd target after a hold above the major resistance.
Hope you enjoyed our analysis about BNB’s possible directions🙌
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Attention: this isn’t financial advice we are just trying to help people on their own vision.
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