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Binance Coin: what about $350For some time the resistance line at $300 has been a hard task for BNB, however, during the previous week, the coin managed to move further from this level, reaching $330, where the coin is finishing the week. Daily trading volumes continue to be decreased, still, positive market sentiment holds for this coin. BNB started the previous week around level of $300 and reached its highest weekly level at $330. During the week RSI was moving from level of 59 up to level of 70, indicating another overbought market and possibility for short term reversal. Moving average of 50 days started its move toward the MA200 counterpart, indicating potential Golden cross in the future period. Indicators are pointing that BNB might start a week ahead with a short term reversal to the downside. Considering the relatively low level of daily trading volumes, it should not be expected to make any significant move. It should rather move toward the $300 support line in order to be tested for one more time. On the opposite side, there is a decreased probability that BNB might head to the higher grounds and test $350 resistance.
BINANCE:BNBUSD
by XBTFX
1
BNB - one more short?BNB has just hit a long-time downward resistance trendline while drawing a bearish rising wedge in the process. We also have a mid-term resistance line crossing exactly at the touch point of the most recent candle, which is the crossing point of the two aforementioned resistance lines. This, for me, is a triple confluence of resistance. If I was in a long position, I would conider taking at least some profits here into stables or at least BTC. I could also consider opening a short position once the rising wedge breaks down and the break is confirmed. See the chart for details for my assumption on likeliness and potential levels. A break to the upside is more unlikely. I would be extremely careful with an ylong positions and would consider takingquick scalping profits even below the potential price targets - please note these patterns and target prices rarely work when applied in inverse situations! None of this isanyform of advice. I am also still learning technical analysis. Please feel free to comment of criticize but please do so in a civilized manner. ;-) Good luck with your trading.
B
by LaiChee81
1
BNB Expected Long-term target $700From the chart above, we can observe that Binance Coin is trading above the 200-day moving average. After being in the bear market for months, BNB finally crossed over the 200-day moving average and traded above the line indicating the market has finished its bearish moments. However, if we zoom it out, it has been trading rangebound between its resistance and support. Irrespective of this sideways movement in the price of BNB, we can deduce the following: The price of BNB is expected to reverse at the $231.2 support1 level, due to the liquidity grab from the previous order block. If investors have their way, the price of BNB could surge higher above the resistance1 level. The reversal at the resistance1 level could lead to a further decrease in the price of BNB up to the support1 level at $231.2 until a double bottom is formed. This could lead to a bullish reversal. Meanwhile, our long-term BNB price prediction for 2023 is bullish since it might break many psychological resistances. We can expect Binance Coin to reach $700 this year.
Long
by CoinEdition
Binance Coin: $300 is hard taskResistance line at $300 continues to be a hard task for BNB. For the last two weeks, the coin was testing this level, however, it is still unable to clearly break it. Daily trading volumes continue to be decreased, with equal participation of both buying and selling orders. During the previous week the price of the coin was moving in a relatively short range, between levels of $322 and $294. Still, the coin is ending the week above $300 level. Two weeks ago RSI reached a clear overbought side, and started its short reversal, down to level of 62. The indicator is still not clearly showing that the market has started a clear short term reversal. Moving average of 200 days is modestly diverging from MA50 counterpart, supporting the cross which occurred as of the end of December. Current charts are pointing that the BNB will start the week ahead by testing the $300 resistance line. In case that there is no market strength to break this line to the upside, then the coin will revert a bit down to the short term stop at $280. At this moment there is no clear indication that the next support line at $250 might be tested in the coming week. On the opposite side, the resistance line at $320 might be shortly tested again.
BINANCE:BNBUSD
by XBTFX
BNB Head and Shoulders*logarithmic scale* Binance Coin broke the uptrendline, formed Head and Shoulders 🤷 pattern and price just broke the Neckline recently. I think there is chance for drop to 166 (logarithmic scale target) and even to 116 (regular scale target - see below). Setting SELL LIMIT order to neckline level to catch🎣 the potential pullback. ENTRY : neckline @ 255 STOPLOSS (SL) : Right Shoulder @ 317.8 TARGET (TP) : H&S target projection @ 166 (logarithmic scale) | H&S target projection @ 116 (regular scale) REWARD RISK RATIO (RRR) : 1.44 | 2.24 INVALIDATION : when SL level hit
Short
by bizmark
25
BNB can continue to move upward until the next targetBNB, after breaking the support of the short-term uptrend line, the price hit the static support levels considered in the $282 range, and with a positive reaction to this area, the price increased again and tried to test the previous resistance break. The current resistance level is considered in the range of $317.8; if it is broken, the BNB can continue to move upward until the next target in the range of $353. Therefore, the current resistance of the short-term trend is very important. But if a negative reaction to this area is observed, and the support of the $292 range is broken again due to the range trend in the 4-hour timeframe, we can expect a test of the previous floor.
by MonoCoinSignal
✴️ Binance Coin | New Money Enters The Market, BULLS Confirmed! We are having a small break after 10 days of sustained growth... This is true for Bitcoin and all the major Altcoins that we are tracking. I also looked at several dozens of the smaller yet still big, medium-sized, Altcoins and they are moving ahead. When we enter a classic correction or retrace after a strong bullish wave this tend to happen fast. We just see prices going back down, like when a rejection happens at resistance in the form of a moving average. This is not what we are experiencing right now. The cryptocurrency market moved up and stayed up, so far. We see many of the altcoins trading above EMA100, EMA50, EMA21 and EMA10. Within the consolidation the current price is staying even above EMA10, signaling lots of strength. Instead of understanding that this wave is already over, what we are inferring from this price action is that there is more to come. Notice that most of the pairs are already trading above MA200, which gives the upper hand to the bulls long-term. We were looking for a close above EMA10/50 to confirm bullish potential. We were looking for a close above EMA100 to confirm that yes, the bulls indeed win. Now our beloved altcoins are trading above MA200... And consolidating before the next price increase. Think of this... We had years of selling pressure. Many pairs peaked November 2021, like Bitcoin, but others peaked August, May and even April 2021... That's a long time ago, specially here with crypto where everything moves fast. After almost two years of selling non-stop... The bears are exhausted, the sellers are gone. So even with this strong breakout we just had, this breakout happened because new money came... This new -billionaire/planet friends- money is not about to leave. This new money just came in for the long-term. They are not selling... We are not selling... We are looking to buy more and more and more for the long-term. Only our leveraged trades open and close. Our Bitcoins and Altcoins we hold for very long. We buy at the bottom and hold, for years to come. Namaste.
by MasterAnanda
2