BNB/USD - At CRITICAL support $400. Can it Rally Again?
BNB find itself at a key junction, sitting just above the critical support at $400. If buyers fail to keep BNB above this level, then it won't be pretty as BNB will lose the current uptrend (dotted trendline).
Yesterday's drop invalidated this most recent breakout from the downtrend, hopefully BNB can go back above it again.
Right now, BNB may have another chance to test the key resistance at $450.
The indicators are not that encouraging, particularly the MACD which is losing momentum, even if still on the positive side.
The RSI did make a higher low on this most recent drop, so that is positive. Lets see if it lasts.
Volume appears flat, so that is neutral. Hence, BNB bias is neutral at this time. The chart can go either way. We will find out in the next few days.
Like and follow if you liked this analysis.
Yesterday's drop invalidated this most recent breakout from the downtrend, hopefully BNB can go back above it again.
Right now, BNB may have another chance to test the key resistance at $450.
The indicators are not that encouraging, particularly the MACD which is losing momentum, even if still on the positive side.
The RSI did make a higher low on this most recent drop, so that is positive. Lets see if it lasts.
Volume appears flat, so that is neutral. Hence, BNB bias is neutral at this time. The chart can go either way. We will find out in the next few days.
Like and follow if you liked this analysis.
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