Binance Coin(BNB): Reached Major Resistance!
BNB is currently exhibiting critical price action as it tests a major resistance zone around $260. This level has previously acted as a strong barrier; a decisive breakout above could signal further bullish momentum. However, the price has faced multiple rejections at this level, so let's see.
We have two possible scenarios here:
1) Breakout with a nice re-test, which would confirm this zone to be backed by bulls, and then we will see a nice movement to further upper zones.
2) The price will fail to seize that resistance, leading it to close the daily candle below it and potentially continuing that weakness further down.
We have two possible scenarios here:
1) Breakout with a nice re-test, which would confirm this zone to be backed by bulls, and then we will see a nice movement to further upper zones.
2) The price will fail to seize that resistance, leading it to close the daily candle below it and potentially continuing that weakness further down.
Comment:
Price has had a nice rejection on upper zones happening as of now, which seems to give us a nice start to that re-test we have been waiting for.
Once we get the re-test, we will be looking for strength to form there for a potential bullish movement from there.
Price has had a nice rejection on upper zones happening as of now, which seems to give us a nice start to that re-test we have been waiting for.
Once we get the re-test, we will be looking for strength to form there for a potential bullish movement from there.
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Coin has had a very sharp breakout, which is currently still feeling pushy!
We are looking here for any kind of re-test to happen soon or even a price closing below this resistance (which would indicate a potential fakeout).