In our last analysis, $280-$277.3 is the short-term bullish support. BNB came down to a lowest point at $276.2 throughout the 19th and 20th, which is right on the target point at $277, before a bounce back. It’s still facing a downward breakout risk.
In the short term, it moves in tandem with BTC. Breaking up and holding above $311.2-$315.7 is a sign of recovery.
Although bnb jumped out of the downward channel and has formed an upward channel on the 1-day frame, it is not stable enough to flip the long-term bearish trend. To do that, it has to break out and hold the core resistance of the bearish trend.
In the short term, it moves in tandem with BTC. Breaking up and holding above $311.2-$315.7 is a sign of recovery.
Although bnb jumped out of the downward channel and has formed an upward channel on the 1-day frame, it is not stable enough to flip the long-term bearish trend. To do that, it has to break out and hold the core resistance of the bearish trend.