Resistance 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.
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.
