๐ Trend reversal $BNB
on the 4-hour chart... Have the bears begun to take control, or is this just a cooldown in the indicators? ๐๐
Today, we take a closer look at the chart for Binanceโs BNB, which is at a very critical moment and attracting tradersโ attention!
๐ Current technical chart analysis:
โข Current price and trend: The price is currently trading at $778.35, down slightly by 0.92%.
โข Strong local high: After a strong rally that reached $809.99, the price encountered fierce resistance and turned downward in a clear corrective wave.
โข Moving averages:
โข The price has now broken below the indicative MA(7) line (in yellow) at $780.65.
โข The price is heading directly to test the next dynamic support line, MA(25) (in purple) at $783.72, and the lower MA(99) line at $776.32.
๐ฏ Expected scenarios (where next?):
1. Bearish scenario (correction continues): If the price fails to hold above the 776โ783 levels, we may see the decline continue, with the aim of retesting previous support areas near $760.35.
2. Bullish scenario (rebound and rally): If the bulls manage to defend the current moving-average support and build a price base above $775, this will give the coin the strength to recover, retest the previous high at $809.99, and break above it to open the way to new all-time targets.
#BNB #CryptoYemen #Trading #TechnicalAnalysis #USD_YEMEN
on the 4-hour chart... Have the bears begun to take control, or is this just a cooldown in the indicators? ๐๐
Today, we take a closer look at the chart for Binanceโs BNB, which is at a very critical moment and attracting tradersโ attention!
๐ Current technical chart analysis:
โข Current price and trend: The price is currently trading at $778.35, down slightly by 0.92%.
โข Strong local high: After a strong rally that reached $809.99, the price encountered fierce resistance and turned downward in a clear corrective wave.
โข Moving averages:
โข The price has now broken below the indicative MA(7) line (in yellow) at $780.65.
โข The price is heading directly to test the next dynamic support line, MA(25) (in purple) at $783.72, and the lower MA(99) line at $776.32.
๐ฏ Expected scenarios (where next?):
1. Bearish scenario (correction continues): If the price fails to hold above the 776โ783 levels, we may see the decline continue, with the aim of retesting previous support areas near $760.35.
2. Bullish scenario (rebound and rally): If the bulls manage to defend the current moving-average support and build a price base above $775, this will give the coin the strength to recover, retest the previous high at $809.99, and break above it to open the way to new all-time targets.
#BNB #CryptoYemen #Trading #TechnicalAnalysis #USD_YEMEN