BNB was under high pressure during the whole week. At the start of the week price was pushed shortly to the level of $313, but selling orders were prevailing with this coin during the whole week. Soon, price reverted to the downside and reached its lowest weekly level at $266 on Saturday trading. Support line at $250 has not been clearly tested, which opens a path toward this level in the coming days. BNB is ending the week around $270 level.
RSI does not show the potential that the market might soon head toward the overbought zone. The indicator was moving between levels of 40 down to 33. Oversold market has not been clearly reached, which increases probability for it in the coming days. MA50 continues to diverge from MA200, indicating that potential cross is still not in prospectus for this coin.
As the support line at $250 has not been clearly tested during the previous week increases the probability that BNB might shortly test this level in the coming days. Current charts show decreased probability for this level to be broken, except in case of negative market fundamentals. Short reversal of the coin might push the price back to the resistance line at $300.
Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
RSI does not show the potential that the market might soon head toward the overbought zone. The indicator was moving between levels of 40 down to 33. Oversold market has not been clearly reached, which increases probability for it in the coming days. MA50 continues to diverge from MA200, indicating that potential cross is still not in prospectus for this coin.
As the support line at $250 has not been clearly tested during the previous week increases the probability that BNB might shortly test this level in the coming days. Current charts show decreased probability for this level to be broken, except in case of negative market fundamentals. Short reversal of the coin might push the price back to the resistance line at $300.
Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
