BNB find itself at a key junction, sitting just above the critical support at $400. If buyers fail to keep BNB above this level, then it won't be pretty as BNB will lose the current uptrend (dotted trendline).
Yesterday's drop invalidated this most recent breakout from the downtrend, hopefully BNB can go back above it again.
Right now, BNB may have another chance to test the key resistance at $450.
The indicators are not that encouraging, particularly the MACD which is losing momentum, even if still on the positive side.
The RSI did make a higher low on this most recent drop, so that is positive. Lets see if it lasts.
Volume appears flat, so that is neutral. Hence, BNB bias is neutral at this time. The chart can go either way. We will find out in the next few days.
Like and follow if you liked this analysis.
Yesterday's drop invalidated this most recent breakout from the downtrend, hopefully BNB can go back above it again.
Right now, BNB may have another chance to test the key resistance at $450.
The indicators are not that encouraging, particularly the MACD which is losing momentum, even if still on the positive side.
The RSI did make a higher low on this most recent drop, so that is positive. Lets see if it lasts.
Volume appears flat, so that is neutral. Hence, BNB bias is neutral at this time. The chart can go either way. We will find out in the next few days.
Like and follow if you liked this analysis.
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
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.