For 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.
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.
