BNB tests the recovery track 700 dollars after the support is found after the market collapsed

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BNB will recover on Friday to $ 650 after a crash on Thursday
Technical analysis shows EMA bullish alignment with the possibility of re -testing of $ 700 resistance
Mashtaqat data reveals a declining feeling of $ 2.18 million in the liquidation.

Binance Coin recovered a modest recovery after selling the brutal market on Thursday, and climbed to reach $ 650. The reversion was established with the support of the SISESESAI for 100 days, about 633 dollars, which provides a technical basis for the current upward movement.

However, BNB still needs to overcome a decrease of 4.42 % on Thursday to completely restore the upholstery between merchants.

BNB prevented EMA’s capacity for 100 days a deeper correction that could have experienced lower support areas, but the distinctive symbol faces multiple resistance levels that could limit greater capabilities.

The recovery comes amidst the stability of the broader cryptocurrency market, although the sustainability of this apostasy remains doubtful in light of mixed technical signals and the conditions of the deteriorating derivative market.

BNB technical preparation prefers cautious optimism

Daily graph analysis reveals the continuous BNB struggle to reach the level of $ 700, which is psychologically important, which served as a stubborn ceiling to work at the last prices. The distinctive symbol surrounded more than 1 % during the past week and an additional 2.5 % this week before trying to recover on Friday. Despite these setbacks, the current price structure maintains some upscale properties.

Intraday BNB Rally paid on both EMA for 100 days at $ 633 and 50 days at $ 642, creating positive preparation in the short term. The alignment of EMAS 50, 100 and 200 days continues to refer to the basic upward trend. However, this structure faces a test of the last sale pressure.

RSI momentum indicators show improvement after dipping them shortly below the center point. It can provide a sustainable step above 50 on RSI, an additional confirmation that recovery contains legs and may challenge higher resistance levels. The outbreak of the previous fall canal remains intact, indicating that the broader upward trend has not been completely penetrated.

The daily closure over EMA for 50 days at $ 642 will increase the possibility of BNB to make another attempt in the psychological barrier of $ 700. Success in this level can open the door for more gains, while failure may lead to the renewal of sales pressure towards low support areas.

Despite the recovery of prices, the derivative market data draws a pessimistic image of BNB horizons close to the range. The open interest was contracted by 3.61 % to 757.70 million dollars, indicating a decrease in the participation of traders and perhaps weakening the condemnation among the market participants. This decrease in participation is often preceded by additional fluctuations.

The liquidation data over the past 24 hours reached $ 2.18 million, which mainly affects long positions and highlights the aggressive nature of the sale of Thursday. The long/short percentage has decreased to 0.7361, indicating a shift towards the identification of vibration between merchants who are placed in the position of more potential declines.