After a modest bullish comeback last Friday, Binance Coin has lost its upbeat momentum at the $436 resistance and has recorded lower highs ever since the loss of traction. This bearish undertone coincides with the top of my multi-month descending wedge, which has consistently kept BNB from a bullish breakout since November.
That said, should BNB capitalize on the upbeat sentiment around the broader market and breach the wedge top, we could witness a rapid rise away from the line and towards the $500 resistance. Bulls need to defend the $410 support line to use as a launchpad to breach the wedge in the coming days.
Meanwhile, my resistance levels are 436, $450, and $460, and my support levels are $410, $380, and $350.
Total Market Capitalization: $1.98 trillion
Binance Coin Market Capitalization: $68.8 billion
Binance Coin Dominance: 3.46 %
Market Rank: #4
That said, should BNB capitalize on the upbeat sentiment around the broader market and breach the wedge top, we could witness a rapid rise away from the line and towards the $500 resistance. Bulls need to defend the $410 support line to use as a launchpad to breach the wedge in the coming days.
Meanwhile, my resistance levels are 436, $450, and $460, and my support levels are $410, $380, and $350.
Total Market Capitalization: $1.98 trillion
Binance Coin Market Capitalization: $68.8 billion
Binance Coin Dominance: 3.46 %
Market Rank: #4
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.