Binance Coin (BNB): Looking For Rejection of Resistance
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Binance Coin is looking pushy after that fakeout near 200EMA. As of now, the price is trading still below the major resistance zone in a 4-hour timeframe, where we do not see any signs of a breakout (of a fakeout).
But what caught our attention is the price being stuck between the 100 EMA and the resistance zone, where the price is under huge pressure from both buyers and sellers.
We are looking more into that 100EMA to be broken so keep an eye on that zone there. If we see a break, we will see another movement to 200EMA; if not, a possible breakout can still happen!
Swallow Team
But what caught our attention is the price being stuck between the 100 EMA and the resistance zone, where the price is under huge pressure from both buyers and sellers.
We are looking more into that 100EMA to be broken so keep an eye on that zone there. If we see a break, we will see another movement to 200EMA; if not, a possible breakout can still happen!
Swallow Team
Nota
Coin is getting closer to our sell zone, where Monday closed in a nice red candle.
As of now, we are looking for that 100EMA to be broken, and after that, we will be looking for a further downward movement to 200EMA and a possible break of that EMA as well!
Nota
While yes, we tested the 100EMA here; we also did not see any breaches there, so we still keep an eye on this zone.
Yesterday we had a smaller attempt but price did not manage to break it and secure. Waiting for another attempt!
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