Binance Coin: short reversal is near?Binance Coin continues to gain in strength. During the previous week, the coin continued to move in the overbought market, increasing its price to the level of $335, where the coin is finishing the week. Next resistance line at $350 has not been tested during the week, leaving this level for the future period.
During the whole week RSI was moving above level of 70, which is clearly overbought market side. This is also an indication that short term reversal is ahead for this coin. Moving average of 50 days started stronger convergence toward MA200, however, there is still some space between two lines, in which sense, there is still time until the golden cross is finally reached.
Technical indicators are pointing that short term reversal is ahead for BNB, since the coin is moving in overbought zone. In this sense, BNB might head toward the support line at $300 in order to test it in the coming days. Level of $330 is only a short-stop for BNB, based on historical data, in which sense; the next target for BNB might be the $350 resistance line in the coming period.
