BNB: Approaching Resistance
Trade setup: Following a bullish breakout from Falling Wedge pattern, price reached our target of $340 now for 2nd time. That’s a level where it got rejected last year in August and November. Now we wait for price to either 1) break above $340 to resume Uptrend with $400 target, or 2) pull back to 200-day MA (~$280) for a swing entry in Uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance:Nearest Support Zone is $300 (previous resistance), then $260. The nearest Resistance Zone is $340, then $400.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance:Nearest Support Zone is $300 (previous resistance), then $260. The nearest Resistance Zone is $340, then $400.
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