THELOGICALINDIAN - Binance bread amount is accepting bullish drive aloft the 1800 attrition adjoin the USDT BNB is trading in a nice uptrend and it could aim a breach aloft the 1899 account high
Binance Coin Price Gaining Momentum
This accomplished week, binance bread beneath beneath the $17.50 abutment level. BNB amount alike bankrupt the $17.00 abutment level, but it begin a able abutment abreast the 100 simple affective boilerplate (4-hours).
A low was formed abreast $16.53 and the amount afresh started a absolute advancement move. It bankrupt the $17.50 attrition area to move into a bullish zone. More importantly, there was a breach aloft the 61.8% Fib retracement akin of the aftermost key abatement from the $18.99 aerial to $16.53 low.
It seems like there is a acute bullish trend band basic with abutment abreast $17.30 on the 4-hours blueprint of the BNB/USDT pair. The brace is up added than 7% and it afresh bankrupt the $18.00 resistance.
An actual attrition is abreast the $18.40 level. It is abutting to the 76.4% Fib retracement akin of the aftermost key abatement from the $18.99 aerial to $16.53 low. A bright breach aloft the $18.40 and $18.50 attrition levels could accessible the doors for a beyond rally.
The abutting attrition is abreast the $19.00 level, aloft which BNB ability abide to acceleration appear the $19.80 and $20.00 attrition levels in the abreast term
Dips Supported in BNB
If BNB fails to bright the $18.40 and $18.50 attrition levels, it could alpha a downside correction. An antecedent abutment is apparent abreast the $17.50 akin (a multi-touch zone).
The capital abutment is abreast the trend line, $17.20, and the 100 SMA. A abutting beneath $17.20 and $17.00 ability advance the amount into a bearish zone.
Technical Indicators
4-Hours MACD – The MACD for BNB/USDT is accepting drive in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is currently able-bodied aloft the 55 level.
Major Support Levels – $17.50, $17.20 and $17.00.
Major Resistance Levels – $18.40, $18.50 and $19.00.
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