Binance Coin (BNB) Fluctuates Between Levels $600 and $700, May Commence Upward Move
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Binance Coin (BNB) Long-Term Analysis: Bullish
Presently, Binance Coin has risen to the high of $700. Buyers have faced rejection twice at the recent high. The altcoin is fluctuating between levels $600 and $700. Meanwhile, on April 12 uptrend, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that the coin will rise to level 1.618 Fibonacci extension or the high of $889.09.
Binance Coin (BNB) Indicator Analysis
BNB price is above the moving averages which suggest a possible upward movement of the coin. The altcoin price is at level 58 of the Relative Strength Index period 14. BNB is in the uptrend zone and above the centerline 50.
echnical indicators:
Major Resistance Levels – $640, $660, $680
Major Support Levels – $540, $520, $500
What Is the Next Direction for Binance Coin (BNB)?
Binance Coin is in an uptrend. The current uptrend is facing rejection at the high of $700, The uptrend will resume when the current resistance is breached. The Fibonacci analysis remains the same as the altcoin is expected to rise. On May 1 uptrend, a retraced candle body tested the 61.8 Fibonacci retracement level. The retracement indicates that the market will rise to level 1.618 Fibonacci extension or the high of $814.85.
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