BNB reached a strong Resistance level. Will it back to test 300?
Doing the work with BNB D1 chart.
330-337 is a strong Resistance level of BNB at this time. We have:
- A Support & Resistance range here (light gray area)
- A Trendline acts as a resistance level here (bold Orange line)
- Fibonacci Retracement level 0.618 here
==> It is had to break out this range. The volume last week is rising but it is not strong enough to break out this level soon.
Here is what I am looking to see:
BNB steps back to 290-300 to test this Support level. It is also good to see that we have a rising Trendline acts as a Support level at this range of price. So this support level is also strong.
For a longer prediction:
- We can expect to see BNB break 330 to reach 380 and moving here a while. Breaking 330 will be a big very good signal.
- 430 will be another strong Resistance level but we can expect it touches this level. For sure, it needs some time.
For now, just waiting with me to see what will happen at 290-300 first.
Happy Trading!!!
Simon from Safe Trading
330-337 is a strong Resistance level of BNB at this time. We have:
- A Support & Resistance range here (light gray area)
- A Trendline acts as a resistance level here (bold Orange line)
- Fibonacci Retracement level 0.618 here
==> It is had to break out this range. The volume last week is rising but it is not strong enough to break out this level soon.
Here is what I am looking to see:
BNB steps back to 290-300 to test this Support level. It is also good to see that we have a rising Trendline acts as a Support level at this range of price. So this support level is also strong.
For a longer prediction:
- We can expect to see BNB break 330 to reach 380 and moving here a while. Breaking 330 will be a big very good signal.
- 430 will be another strong Resistance level but we can expect it touches this level. For sure, it needs some time.
For now, just waiting with me to see what will happen at 290-300 first.
Happy Trading!!!
Simon from Safe Trading