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BNBUSD trade ideas

Binance Coin: reversal on schedulePositive developments for BNB continue for a second week in a row. During the previous week, the price of the coin was pushed further to the upside, where BNB managed to reach the resistance line at $350, after breaking the short term stop line at $330. Technical charts are showing potential for more positive developments to come in the future period. Two weeks ago RSI reached a clear overbought side, while the coin continued to move in this range during the whole previous week. Highest level reached for RSI was 81 which is indication of heavily overbought market. On the other hand, this is also an indication that the price will enter into a short reversal in the coming period. Moving averages of 50 days are converging toward the MA200 counterpart, while the distance between two lines becomes very short, indicating potential golden cross formation in the short future period. Since BNB reached more than clear overbought market side, it could be expected that the price will revert a bit to the downside in the week ahead. In this sense, the first stop for the coin might be a short term support line at $330. At this point, charts are showing lower probability that this level might be breached to the lower levels. On the other side, the resistance line at $350 might be tested again.
BINANCE:BNBUSD
by XBTFX
1
BNBUSD: Under a KEY RESISTANCE! What's next?• BNB is very bullish, but it has to face its most challenging resistance now, around $337; • The $337 is a triple-resistance area, as seen in the daily chart, and only if BNB breaks it, we’ll see a bullish run to the next resistance at $413; • However, if BNB fails in breaking this resistance, and triggers the Double Top chart pattern seen I the 1h chart by losing the purple trend line, a pullback is plausible; • The next support level is at $299 (red line), near the 21 ema in the daily chart – making it a dual-support level; • So far, the situation is under control, and the volume is quite high. Let’s pay attention to these key points. Remember to follow me to keep in touch with my analyses!
BINANCE:BNBUSD
by Nathan_The_Finance_Hydra
Binance Coin: overbought is near It was a positive week for BNB, as the positive market sentiment pushed the price to the level of resistance at $300. The last time when this level was tested was at the beginning of October this year. Highest level reached during the week was $308. On a positive side is also that the $250 support line has not been clearly tested since August this year, showing that the market was clearly set to the upper side. During the week RSI reached level of 70, which is a clear overbought market side. After this, it could be expected some short reversal to the downside. Moving averages of 50 and 200 days are quite modestly converging toward each other, still postponing the golden cross. BNB will start a week ahead by testing the $300 resistance line. Considering that the RSI had reached a clear overbought side, there is high probability for a short reversal. In this sense, $270 might be a short term target. The prevailing buying orders would certainly seek the higher grounds. In case that $300 resistance is clearly breached to the upside, it will open a path toward $330. Current charts are showing that there is some probability for such a move in the coming period.
BINANCE:BNBUSD
by XBTFX