Unlock exclusive research & insights you need to navigate the crypto space with confidence
Market Analysis

BNB Technical Analysis – Back En Route To ATH’s?

16 Oct 2019 : 12:25
2 min read

BNBUSD is one of the coins that has remained green the longest.  At the time of writing, BNB is trading at $18.48, which is a 30% increase in price compared since last week.

In fact, in the last four days, BNB has gained over 14%, with no major signs of a retracement. This is a good sign that the bullish momentum may well continue.

Technically, BNBUSD is currently at a key region to enter long. A significant liquidity area in the weekly timeframe plus the “golden Fibonacci level” are important confluences. In addition, a candlestick confirmation has also been spotted, as last week the daily candle close above the $16 level, emphasising the bullish bias.

The next targets to watch on should be the $22 – $26 level. If the monthly descending trend does not lose momentum though, bears can push the price back to $14 or even $12. In both cases, rebuying the asset at those levels is also a good strategy.

Remember! BTC.D keeps dropping gradually from its highs. The weekly candles in the weekly timeframe tell us that the overall power of BTC in the crypto market is reducing. Altcoin traders have experienced some profits this week due to this loss of momentum.


Michela Silvestri

Post a Comment