An Important target for BNB
Price is in correction phase of a mid-term downtrend. The specified target is very important, because it's the point that 50% retracement zone meets the EMA(200), it's a resistance level and also where the price hits the downtrend line. So, We have to wait for the price to react then decide the market direction and possible trade opportunities.
Trade closed: target reached
The price is now reacting to the resistance level. We can expect a short-term to mid-term downtrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.