Binance Coin Price Analysis and Preboint (January 23) – BNB resumes the sale after the small recovery, is the bull operated?
BNB’s bullish look remains on the daily chart, but the demand level seems low. This trend is subject to a side movement where it accumulates for another big step. 3 % decreased on a daily scale.
BNB has continued to trade sideways since the price decreased from the peak level of $ 793.8 last month. However, the trend remains optimistic at the macro level, but it has not yet decided the next main step since last week.
Last week witnessed the price by a small recovery higher than the level of $ 700, but the original failed to fist it during the weekend. I lost the momentum again and started this week confused. The level of $ 671 provided time support on Monday and briefly recovered the price the next day.
The purchase pressure stopped yesterday due to the rejection and the decline in the bears. Currently, the price looks weak amid high sale orders. If the price decreases below the lowest level last week, BNB may draw another declining scenario capable of causing serious panic and fear in the market.
For upscale procedures, BNB should push the highest level to confirm the continuation. The last peak is still the main level of separation. The above increase may feed a greater gain in the future. The crash of less than $ 400 will lead to the end of the bull cycle. But at the present time, there is still hope for bulls.
BNB key level to watch
source: Tradingvief
Currently, BNB aims to reconsider the lowest level last week worth $ 660. A collapse can slip from there to $ 618.7 and possibly $ 593.
If it rises to the highest level of 700 dollars, then the resistance level for viewing will then be $ 745 and $ 793.8 before the upper explosion.
Main resistance levels: $ 700, $ 745, $ 793.8
Main support levels: $ 660, $ 618.7, $ 593
- Immediate price: $ 685
- Trend: neutral
- Volatility: low
Disclosure: This is not a trading or investment advice. Always make your search before buying any encrypted currency or investing in any services.
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