Binance Coin started the previous week by testing the support line at $250. Soon the coin managed to revert to the upside, reaching the weekly highest level at $276. Next resistance line at $300 has not been tested on this occasion, but with its latest moves, the coin opened a path to this level. RSI was pushed to the level of 65, but a clear overbought market has not been reached. This move indicates that the market will certainly watch this line in the coming period. Moving averages of 50 and 200 days are moving as two parallel lines for the second week in a row, however, convergence has still not started.
Technical analysis is pointing that the path toward $300 resistance is currently open. However, in order to reach this level, some short reversal might lay ahead. There is a higher probability that BNB will revert to the support line at $250 in order to test it one more time, before it reverts back to next resistance.
Technical analysis is pointing that the path toward $300 resistance is currently open. However, in order to reach this level, some short reversal might lay ahead. There is a higher probability that BNB will revert to the support line at $250 in order to test it one more time, before it reverts back to next resistance.
