Binance CoinLong
Binance Coin (BNB) holding strong
After being dumped to $13.3, and retrace till the 61,8% Fib level, Binance coin (BNB) showed once more that it has enough power to overcome the bearish sentiment in the market. Yesterday it crossed the 50% and found support at 38.2% level, priced at $15.30.
This could be a trend continuation signal. If it fails, a further dip to retest the lower levels (at $1, near the red line, and the 61% level) is probable. Just below $14 levels, BNB has $12.87 and $11.58 as a previous support region.
MACD starts to turn red, meaning that a downtrend can be starting soon. RSI is neutral at 55. Worth mention that the latest bottoms were formed with the RSI at the 40 levels, so we believe BNB still has space for another low.
In another scenery, a break and close above the 23.60% Fib level is needed for buyers to take control and retest the previous high.
Considering that Bitcoin doesn't break below the $6400 levels, a good buy opportunity would be at the retest of the 50% and 61% Fib levels, at $14.59 and $13.88 range.
This could be a trend continuation signal. If it fails, a further dip to retest the lower levels (at $1, near the red line, and the 61% level) is probable. Just below $14 levels, BNB has $12.87 and $11.58 as a previous support region.
MACD starts to turn red, meaning that a downtrend can be starting soon. RSI is neutral at 55. Worth mention that the latest bottoms were formed with the RSI at the 40 levels, so we believe BNB still has space for another low.
In another scenery, a break and close above the 23.60% Fib level is needed for buyers to take control and retest the previous high.
Considering that Bitcoin doesn't break below the $6400 levels, a good buy opportunity would be at the retest of the 50% and 61% Fib levels, at $14.59 and $13.88 range.
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