It was a good week for BNB, as the coin managed to reach its short term target at the $300 resistance line. With the latest move, price was moved close to the overbought market, but it still has not been clearly reached, leaving some space for price`s further move to the upside.
BNB started the previous week by testing a $250 support line. Minimum price level has been reached at $240, when the coin reversed to the upside and clearly headed toward the resistance at $300. Such a move was clearly marked on the charts two weeks ago. At the same time, RSI was pushed to the level of 68, however, a clear overbought level has not been reached, which leaves some space for the price to test higher grounds. Moving averages of 50 and 200 days continue to move as two parallel lines, still without indication that convergence might soon start.
BNB reached its long awaited target at $300 resistance. In the coming days it might be expected for this level to be tested for potential for a move to the upper side. This might bring RSI to the clear overbought market, when the price might start its short term reversal. At this point, there is no clear indication on the charts that the price might go much higher from current levels, within the next few days. In case that price enters into short reversal, then it might head toward $250 support to test it once again.
BNB started the previous week by testing a $250 support line. Minimum price level has been reached at $240, when the coin reversed to the upside and clearly headed toward the resistance at $300. Such a move was clearly marked on the charts two weeks ago. At the same time, RSI was pushed to the level of 68, however, a clear overbought level has not been reached, which leaves some space for the price to test higher grounds. Moving averages of 50 and 200 days continue to move as two parallel lines, still without indication that convergence might soon start.
BNB reached its long awaited target at $300 resistance. In the coming days it might be expected for this level to be tested for potential for a move to the upper side. This might bring RSI to the clear overbought market, when the price might start its short term reversal. At this point, there is no clear indication on the charts that the price might go much higher from current levels, within the next few days. In case that price enters into short reversal, then it might head toward $250 support to test it once again.
