- BNB bulls showed initiative and strength to halt the losses at $500 and force a recovery.
- The diminished trading volume in recent days was a point against them.
Binance Coin [BNB] reached highs not seen since January 2022. The breakout from the $325 range saw BNB post 99.5% gains in 31 days. At press time, the market structure on the one-day timeframe was bullish.
BNB retraced some of its recent gains but bounced quickly from the psychological $500 level. Yet, some indicators suggested that a deeper retracement was possible.
The bulls were in a hurry
Source: BNB/USDT on TradingView
The retracement from $645 to $500 took four days to complete. This dip saw prices retest the 50% Fibonacci retracement level, plotted from the swing low at $356.1.
The bulls drove a recovery almost immediately after this pullback.
While prices bounded higher, the trading volume trended downward. This was seen on the OBV as well as the trading volume bars.
It indicated that demand might not be driving this rally, and new lows were still possible.
The RSI showed strong bullish momentum with a reading of 63. It also exhibited a hidden bullish divergence when the indicator made lower lows, but the price made higher lows.
Subsequently, BNB prices jumped higher from $500 to $579 at press time.
Will the liquidity near $600 halt the bulls?
Source: Hyblock
How much are 1,10,100 BNBs worth today?
The $600, $626, and $653 levels represented liquidation levels that prices could be attracted to. To the south, the $500 and $475 were the closest pockets of liquidity for Binance Coin.
While these are levels of interest in the coming days, the trend remained biased bullishly. If we see another BNB dip to the golden pocket at $418-$466, it would present a buying opportunity.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
- BNB bulls showed initiative and strength to halt the losses at $500 and force a recovery.
- The diminished trading volume in recent days was a point against them.
Binance Coin [BNB] reached highs not seen since January 2022. The breakout from the $325 range saw BNB post 99.5% gains in 31 days. At press time, the market structure on the one-day timeframe was bullish.
BNB retraced some of its recent gains but bounced quickly from the psychological $500 level. Yet, some indicators suggested that a deeper retracement was possible.
The bulls were in a hurry
Source: BNB/USDT on TradingView
The retracement from $645 to $500 took four days to complete. This dip saw prices retest the 50% Fibonacci retracement level, plotted from the swing low at $356.1.
The bulls drove a recovery almost immediately after this pullback.
While prices bounded higher, the trading volume trended downward. This was seen on the OBV as well as the trading volume bars.
It indicated that demand might not be driving this rally, and new lows were still possible.
The RSI showed strong bullish momentum with a reading of 63. It also exhibited a hidden bullish divergence when the indicator made lower lows, but the price made higher lows.
Subsequently, BNB prices jumped higher from $500 to $579 at press time.
Will the liquidity near $600 halt the bulls?
Source: Hyblock
How much are 1,10,100 BNBs worth today?
The $600, $626, and $653 levels represented liquidation levels that prices could be attracted to. To the south, the $500 and $475 were the closest pockets of liquidity for Binance Coin.
While these are levels of interest in the coming days, the trend remained biased bullishly. If we see another BNB dip to the golden pocket at $418-$466, it would present a buying opportunity.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
cost generic clomiphene without insurance cost clomiphene without a prescription how can i get cheap clomiphene price where can i get cheap clomiphene without prescription order generic clomid online clomiphene at clicks how to get generic clomid without prescription
This is a keynote which is in to my callousness… Diverse thanks! Faithfully where can I lay one’s hands on the phone details in the course of questions?
This is the tolerant of enter I recoup helpful.
order azithromycin 500mg generic – how to get ofloxacin without a prescription metronidazole 400mg ca
order domperidone 10mg generic – buy tetracycline 500mg generic where can i buy flexeril
how to get propranolol without a prescription – buy clopidogrel paypal methotrexate for sale online
order amoxil pill – order ipratropium 100mcg for sale ipratropium 100mcg sale
azithromycin where to buy – purchase tinidazole bystolic 20mg for sale
oral augmentin 375mg – https://atbioinfo.com/ acillin cost
order nexium 40mg pills – https://anexamate.com/ esomeprazole over the counter
warfarin over the counter – cou mamide order cozaar 25mg generic
purchase mobic – swelling buy meloxicam 7.5mg pill
generic deltasone – aprep lson deltasone 10mg cost
buy ed pills uk – https://fastedtotake.com/ where to buy otc ed pills
order amoxicillin generic – combamoxi.com oral amoxicillin
purchase fluconazole – fluconazole 100mg cheap buy fluconazole online
buy cenforce 50mg sale – cenforcers.com cenforce ca
order cialis no prescription – https://ciltadgn.com/ order cialis no prescription
buy generic zantac online – https://aranitidine.com/ ranitidine over the counter
where to buy tadalafil online – canadian cialis 5mg cheap cialis pills
viagra 100mg street price – https://strongvpls.com/# buy viagra vancouver
More posts like this would make the blogosphere more useful. cheap amoxil generic
This website absolutely has all of the tidings and facts I needed adjacent to this participant and didn’t comprehend who to ask. https://ursxdol.com/amoxicillin-antibiotic/
I am in fact happy to glitter at this blog posts which consists of tons of profitable facts, thanks representing providing such data. https://prohnrg.com/product/loratadine-10-mg-tablets/
The vividness in this piece is exceptional. https://aranitidine.com/fr/acheter-fildena/
Thanks recompense sharing. It’s acme quality. https://ondactone.com/spironolactone/
Thanks recompense sharing. It’s outstrip quality.
plavix drug
More posts like this would force the blogosphere more useful. http://www.predictive-datascience.com/forum/member.php?action=profile&uid=44942
dapagliflozin 10 mg pills – https://janozin.com/# dapagliflozin 10 mg generic
order xenical generic – click orlistat us