BNX → The coin is stronger than the market. Bullish trend

6 ago

BNXUSDT looks quite strong relative to the entire cryptocurrency market, maintaining an already strong bullish trend. The price is forming a range and it is worth paying attention to its boundaries...



The situation is complicated by panic, bitcoin is unstable and thus creates unnecessary volatility in the whole market. The ideal outcome would be to stop the market and reduce volatility or consolidate so that action can be taken. But in fact BNX looks stronger than the market and this is worth taking into consideration.
The focus is on the strong 1.4252 - 1.2800 range. Because of the challenging technical environment, two scenarios are worth considering (but I like the resistance breakout the best)
If the bulls hold 1.2800 and start gradually approaching 1.4252, we should expect a breakout with further upside to 1.75 range resistance or even higher in the long term.

Support levels: 1.28, 1.1618
Resistance levels: 1.4252, 1.5161

However, if the bulls fail to hold 1.28 and the price breaks the support on the background of high market volatility, it may test 1.1618 - 1.0399 once again before further growth, as the uptrend is still in place

Rate, share your opinion and questions, let's discuss what's going on with ★ BNXUSDT.P ;)

Regards R. Linda!

7 ago

Trade attivo

Consolidation continues
The coin is respecting the specified limits of the local range, which makes them stronger.
A breakthrough of one of the boundaries may give a strong impulse

23 ago

Trade chiuso: obiettivo raggiunto

Target reached!