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Binance Coin BNB Technical Analysis [April 2024]BNBUSD Weekly Chart Conditions for a Bullish Scenario In the weekly chart, BNB is lingering around the key weekly support zone at $577 (or the range of $563-$597). It has to maintain the price action and weekly candle closures above this zone, preferably above $597 to remain in the bullish territory. A price consolidation above $597 will push BNB towards the next weekly resistance zone around $509 and, possibly, higher to $738-$800, the new All Time High. A weekly candle closure below $577 zone (or below the bottom of the zone at $563) in the weekly chart will not necessary make Binance Coin bearish, but will: 1. place BNB price into the wide weekly range zone where we will see slow and choppy price action; and 2. increase probability for a further decline towards $509 and, most likely, lower to $440 region, the key weekly support. BNBUSD Daily Chart Conditions for a Bullish Scenario In the daily chart, Binance Coin has to maintain the price action above the zone around $589 (marked grey) to become bullish to move towards the key daily resistance of $717 and higher towards $830. Binance Coin price can decline more from its current location towards $534. A bearish break-out of this level will push the price towards $480. The price action with $480 will be very important as a rejection of this support will lead to a bullish move towards $589 and could complete the ABC correction started on March 16. Once the bearsih pullback in BNB price chart is completed, I expect to see a continuation of a bullish rally. A strong bullish break-out of $589 from its current price location is not very likely and BNB has to complete the corrective structure (triangle, flat) before moving further up. However, the completion of this corrective structure could be very fast. BNBUSD Daily Chart Conditions for a Bearish Scenario Right now the sentiment in the daily chart is neutral and it will remain neutral as long as BNB is trading below $589. A deeper pullback is likely and the price action with $480 zone will be very important. A bearish break-out of the key support zone around $480 and the dynamic support in the form of 50-Day Moving Average will place BNB into the bearish territory and we see an impulsive move towards $421 and, lower, to the key daily support zone at $352. As long as BNB is trading above $480, the bearsih scenario is irrelevant. Binance Coin BNB: A Short-Term Price Action After testing the top of the second key support zone at $539, BNB found a base in the between $552 and $561. Yesterday, we saw a bullish reaction to this support zone, which is an expected price action. BNB price can push back to $586, the key intraday resistance. The price action with these resistance level will be very important. A bearish rejection of either of these levels could send price for a re-test of the second zone between $529 and $539, and possibly even lower to $504. In the alternative scenario, we need to see a strong bullish break-out of $586. In this case, the price will move to $607. BNB will become bullish in the 4-Hour chart only upon reclaiming $607 level.
by Trade-Lean
BNB - Holding Strong and Ready for next moveBINANCE:BNBUSDT (4H CHART) Technical Analysis Update BNB is currently trading at $317 and showing overall bullish sentiment We are seeing nice 1D candle which is showing a bullish sentiment. We can expect the trend to continue until 340$ and we can see some resistance at that range. Once BNB breaks the 340 range then next target is an easy 400$ Entry level: $310-317 Stop loss level $280 Target 1: $ 337 Target 2: $ 374 Target 3: $396 Target 4: $448 Max Leverage: 2x Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
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by GreenCryptoTrades
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BNBUSDT: Riding the Bullish Wave with Strategic Analysis"In the dynamic world of cryptocurrency trading, identifying patterns and key zones is essential for navigating market trends effectively. One such pattern that often signals a bullish trend reversal is the W pattern, characterized by a double bottom formation. Within the context of BNBUSD trading, the emergence of a W pattern signifies a potential shift from bearish sentiment to bullish momentum. At the heart of this pattern lies the main buy zone and order block zone, where whales and significant investors strategically position themselves to capitalize on favorable market conditions. In the case of BNBUSD, this critical zone is observed between $528 to $524. Within this range, market participants identify a convergence of factors that make it an attractive accumulation area. The $528 to $524 range represents a level of significant support, where historical price action suggests increased buying pressure and a reluctance of sellers to push the price lower. As the price approaches this zone, traders and investors perceive BNB as undervalued, prompting increased buying interest and positioning for potential price appreciation. Moreover, within this buy zone, the presence of order blocks further solidifies its significance. Order blocks are areas on a price chart where significant buying or selling activity has occurred, often leaving behind a "block" of orders yet to be filled. In the context of BNBUSD trading, the $528 to $524 range represents a notable order block zone, indicating substantial buying interest from whales and large institutional investors. The strategic accumulation of BNB within this zone is driven by the anticipation of future price growth. Traders and investors recognize the potential for a bullish reversal following the formation of the W pattern, with the $528 to $524 range serving as a launching pad for upward momentum. It's important to note that the significance of this buy zone extends beyond mere price levels. It reflects a collective sentiment among market participants, including whales and institutional investors, who strategically position themselves to capitalize on future price movements. Their accumulation within this zone not only provides support for the price but also signals a vote of confidence in the long-term prospects of BNB. In conclusion, the W pattern observed in BNBUSD trading signals a potential bullish trend reversal, with the main buy zone and order block zone identified between $528 to $524. Within this critical range, whales and significant investors strategically accumulate BNB in anticipation of future price appreciation. By recognizing the significance of this zone and understanding the dynamics at play, traders can make informed decisions to capitalize on potential opportunities for profit.
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by MOAZAM1133
BNB promising cup and handle patternThe BNB/USDT pair is currently displaying a promising cup and handle pattern on the daily time frame, suggesting a potential bullish reversal. This classic chart pattern typically signifies a period of consolidation followed by a breakout to the upside. With the cup and handle formation in play, there's a strong possibility of a continuation of the upward trend, potentially targeting around $455 USD for BNB. This target is derived from the pattern's measured move, projecting the expected advance after the breakout. Moreover, the MACD indicator is indicating a forthcoming bounce, adding further confirmation to the bullish outlook. The convergence of positive signals from both the price pattern and the momentum oscillator enhances the probability of an upward momentum surge. If the short-term trendline is breached and the cup and handle pattern is confirmed, it could act as a catalyst for a substantial upward move. Traders and investors alike may anticipate a significant rally, leveraging the breakout to capitalize on potential gains. In conclusion, the technical setup for BNB/USDT appears highly favorable, with the cup and handle pattern, coupled with a potential MACD bounce, indicating a bullish trajectory. Confirmation of the breakout could trigger a notable surge in price, with $455 USD emerging as a viable target for the upward movement.
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by Bitcoinblockchainonline
💡Don't miss the great buy opportunity in BNBBTC %66My friends, I am intensively working on BNB. You can also review my previous analyses regarding BNB. I hold a positive view on BNB. The ecosystem is expanding, the BNB staking in launchpads, Binance's dominance in the sector, and the token burning policy until it drops below 100 million—all these factors are positive for BNB. As you can see, my past predictions have never been wrong. Now, I am expecting a 66% increase with a 5% risk factor. My expectations are actually higher, but this is what I can share with you.
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by srmustafabas
BNB/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BNB/USDT update from Crypto Sanders. Chart Analysis:- Hello friends, what do you think after seeing the chart? Please comment on the BNB WEEKLY update. Surprisingly, Binance Coin is the best performer on our list after increasing its price by 6% this week and hitting a new yearly high. The bias is bullish, but current market sentiment may temper expectations of higher price levels. For this rally to continue, buyers need to push BNB above 377 and claim this level as key support. This will open the door to higher prices due to which this cryptocurrency can break above 400. Binance Coin could make new highs if buyers remain determined. Failure to sustain above 377 could lead to price correction towards 330 or 300. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
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by CryptoSanders9563
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BNBUSDT Good Buy Opportunity!!BNB/USDT has recently undergone positive corrections, setting the stage for a significant upward movement. The chart indicates a potential breakout beyond the next resistance level, presenting a promising buying opportunity. Investors are anticipating substantial returns in the near future as the asset shows signs of a robust upmove." BNBUSDT (1D Chart) Technical analysis BNBUSDT (1D Chart) Currently trading at $301 Buy level: Above $301 Stop loss: Below $260 TP1: $335 TP2: $350 TP3: $400 TP4: $460 Max Leverage 3x Always keep Stop loss Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
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by GreenCryptoTrades
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Binance Coin still in fourth wave. Looks bullish💰💸💵📈Reviewing the Binance Coin (BNB) against Tether (USDT) chart, it's notable that the Elliott Wave structure points to us currently being in the fourth wave. Correcting the previous analysis, we do not see the completion of the fifth wave but rather the fourth wave, which suggests that the market is in a corrective phase rather than an impulsive final wave push. The presence of high-volume nodes at lower price levels indicates significant trading interest, which could act as potential support zones for BNB if the price retraces. The areas of liquidity highlighted on the chart (not specified by color) are of particular interest, as they often represent levels where institutional investors might place substantial orders. Fibonacci retracement levels drawn on the chart serve as technical landmarks for potential reversals or continuation of trends. For instance, the 0.618 retracement level around the 322-325 USD range is a critical area to monitor for potential institutional activity, as reversals often occur at such key Fibonacci levels. In terms of candlestick formations, large bullish candles with long lower wicks can indicate strong buying interest at lower prices, while long upper wicks can suggest selling pressure at higher price levels. These candlestick patterns, combined with the identified Elliott Wave phase and liquidity areas, help create a narrative around potential smart money actions. To capture the sentiment of smart money, it's crucial to observe how price reacts upon reaching these significant levels. Any substantial breakout or reversal at these points could signal smart money's influence on the market, providing insights for strategic entry or exit points. As we continue to observe BNB's price action, we must remain flexible to the market's dynamics and adjust our analysis as new information unfolds, always considering the potential strategies and movements of smart money within the market's structure.
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by CryptoDiabloo
BNB/USDT WEEKLY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BNB/USDT update from Crypto Sanders. Chart Analysis:- Hello friends, what do you think after seeing the chart? Please comment on the BNB WEEKLY update. BNB struggled to hold its own, which is why it closed the week without any significant changes in its price compared to the previous week. Buyers managed to keep it above $300 at the time of this post, which is a positive sign. If the overall market sentiment improves in the coming days, BNB may also follow suit. Looking ahead, this cryptocurrency has been found in a flat trend since the beginning of the year, and a major breakout is needed to take the price to the $360 resistance. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
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by CryptoSanders9563
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BNB UnleashedDon’t Miss Out! Binance Coin (BNB) Leads Crypto Market Charge with Technical Breakout Fueling Potential Surge Binance Coin (BNB) Price Analysis: Navigating the Path to Surge Towards $300 In the ever-evolving landscape of the cryptocurrency market, Binance Coin (BNB) stands out as a beacon of potential, with its current trajectory indicating a probable climb of up to 20% towards the coveted $300 mark. This analysis delves into the nuanced factors driving BNB’s recent surge, the strategic levels to watch, and the overall market sentiment that could influence its journey. Binance Coin Price Overview: Catalysts and Momentum Binance Coin has emerged as a standout performer in the recent crypto market dynamics, particularly as Bitcoin reaches $42,599 and Ethereum soars to $2,204. Amidst this bullish backdrop, BNB has exhibited notable gains, currently resting at $254. The market’s growing optimism, fueled by the anticipation of BTC spot exchange-traded funds (ETFs) approval in January, has become a driving force behind the surge in various cryptocurrencies. However, the crypto space remains on edge due to the lingering uncertainty surrounding potential pre-approval sell-offs or rallies. In this context, Binance Coin appears to be charting a course of least resistance, paving the way for potential upward movements. BNB’s Path to $300: Technical Analysis As we dissect the technical aspects of Binance Coin’s recent performance, it becomes evident that the coin is in the early stages of a compelling rally with a target set at $300. Key indicators underscore the positive trajectory: Exponential Moving Averages (EMAs): BNB has maintained its position above crucial levels, as indicated by three applied MAs. The 50-day Exponential Moving Average (EMA) in blue, currently at $237, serves as foundational support. Additionally, the confluence support created by the 21-day EMA (in green) and the 200-day EMA (in white) adds further strength to BNB’s position. Trendline Breakout A pivotal moment in BNB’s recent journey was the breakout from the descending trendline resistance. This breakout, coupled with a spring from the horizontal ray support backed by the 50-day EMA, accentuates the bullish theory surrounding Binance Coin. Yellow Resistance Breakthrough The next breakout, anticipated above the yellow band on the chart, could be a game-changer. A successful retest of this yellow resistance may pave the way for BNB to surge towards the $300 milestone. Market Sentiment and Considerations With BNB’s trajectory pointing towards potential gains, traders need to exercise strategic considerations. As the coin makes strides towards the $300 target before 2024, cautious optimism is advised. Traders should be vigilant, considering potential obstacles at $260 and $280, which might pose challenges during the ascent. In conclusion, Binance Coin’s ascent in the crypto market reflects not only its individual strength but also the broader positive sentiment prevailing in the space. The journey towards a climb to $300 holds promise, and strategic awareness of key levels will be instrumental for traders looking to capitalize on BNB’s upward momentum. As BNB continues its climb, the crypto community watches with anticipation to see if it can conquer the challenges and emerge triumphant in the ongoing crypto rally.
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by TheCryptoCity