A big favorite of many, after all imagination, it bursts up without stopping! But until when? The market is currently building around the BNB and is trying to price more Defi ecosystems. It is very similar to the 2017 ETH, around which an ICO craze was built that year, and then the whole thing was dragged into the ashes of the bear market. CZ apparently rides every crypto trend like a careful farmer. This analysis, as usual, will be of a purely technical nature. And he only researches the goals of the current thread.
The graph shows a day view. We have a bull falg marked here in nice black, the stem of which ended above 800%. Amazing ride in just 28 days! Will another 28 days be enough for the shape to reach another target price?
Where will the target prices be? What movements are expected?
If we pull a fork on the , it shows nicely the oblique resistance and supports zones, which the exchange rate also respects with mathematical accuracy.
The target price is given by the stem of the , but this should not be taken as 100%. For clarification, the good old proven fib is used for help. As we draw this onto the graph, we also get the main levels that will also be resistance and support zones. From this, it appears that the $ 708 and $ 1030 exchange rates will be the above horizontal resistors. Personally, my opinion is that the psychological exchange rate of $ 1,000 will be the culmination of this shape, possibly $ 1352 - but the latter is still a big question for me.
I outlined an idea of the expected movement with a blue arrow. There is currently a minor correction underway that was triggered by reaching the centerline of the fork as resistance.
Interesting traffic: Here, as you can see, the price increased in the first round, so did the traffic. After the correction, this phenomenon can be observed again, traffic is starting to develop well above the average, which is expected to increase further.
Just like the other indicators, it shows the beginning of the correction on Tuesday.
The bull market is currently in full swing. The real big threads are still ahead of us. Get ready for this! But keep in mind, the bear market is also a natural part of the cycle, as is a correction.
Like the BNB, more and more coin will reach the former ATH and move on to the path of price discovery .
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Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translator