BNB (Analysis)

BNB had a good price growth last week. This currency, which is in a range trend in the daily time frame, has registered an upward movement up to the range of $290 at the ceiling of the descending channel by maintaining its support in the range of 265-270 dollars. On the other hand, the resistance of the channel's ceiling, which has overlapped with the range of 280 to 286 dollars, has caused the price to stop and range the trend in this range. In the 4 hours, we can draw a narrow ascending channel inside the short-term descending channel.

This channel can monitor price fluctuations more closely. If the bottom of the channel is broken, the price of BNB will continue to fall to the main support range of $235 - $242. To break the current resistance, buyers must act with high volume to stabilize the price above the $290 range. If the 4-hour candle does not close below the $280 range, the probability of resistance breaking will increase. In this case, the price target will be 300, and 310 dollars after the ceiling of the descending channel is broken.