Binance Coin, BNBUSDT at a solid resistance - make or break ?
Hello guys,
Binance Coin is flying on some solid fundamentals recently, mainly related to the upcoming listings on the Launchpad platform, which will require significant BNB accumulation from the participants. I won't go into the details here, but the BNBUSDT pair is already 11 percent up today.
What I see here is a potential for a run towards the current YTD candle close high on the 4-hour chart and above it (in the $335-$350 area), which is another 11-15 percent from here IF we break the current resistance level. The price is hovering in the $300 zone for the last 7-8 hours, so the bull pressure is here and I think it is a matter of time before we break it, given the overall bullish sentiment in the market remains in the short-term.
My trigger will be a 1-hour candle close above $306 with a stop loss below $290.
Best Regards
Binance Coin is flying on some solid fundamentals recently, mainly related to the upcoming listings on the Launchpad platform, which will require significant BNB accumulation from the participants. I won't go into the details here, but the BNBUSDT pair is already 11 percent up today.
What I see here is a potential for a run towards the current YTD candle close high on the 4-hour chart and above it (in the $335-$350 area), which is another 11-15 percent from here IF we break the current resistance level. The price is hovering in the $300 zone for the last 7-8 hours, so the bull pressure is here and I think it is a matter of time before we break it, given the overall bullish sentiment in the market remains in the short-term.
My trigger will be a 1-hour candle close above $306 with a stop loss below $290.
Best Regards
Note
BNB is in flight alreadyNote
BNB now stable above the resistance zone. I expect further upward movement from here as per the original idea.Note
Target hit
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