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BNB/USDT : How to bounce more ? for BINANCE:BNBUSDT by Helical_Trades

BINANCE:BNBUSDT
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

– $428.48

– $317.17 – $339.08

And the resistances are :

– $512.07 – $529.56

– $563.42 – $598.81

Hourly EMA 100 is supporting BNB too, So we can count it as a potential level to bounce; But the volatility 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 support zone at, Which is standing near the bullish trend 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 :

– $516.50

– $587.32

– $668.61

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 resistance zone .

If the this scenario happens, Then there will be only one weak resistance zone 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.

The overview is currently bullish !

🔴 The bullish scenarios will be invalidated after a rejection below the lower support zone at $448.32 – $454.93.

Hope you enjoyed our analysis about BNB’s possible directions🙌

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Also you can share your opinion with us in comments 😉🙋🏼‍♂️

Attention: this isn’t financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades

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