BNBUSDT, 720
#
Long-Term
25 Aug 2021
#
100dollar
BNB/USDT : How to bounce more ?

BINANCE:BNBUSDT
Hello everyone 😃

BNB has reached the major resistance and it needs to take hold above it for final bounce before reaching ATH.

For now the current supports are :
- $478.01
- $448.32 - $454.93
- $428.48
- $317.17 - $339.08

And the resistances are :
- $512.07 - $529.56
- $563.42 - $598.81

Hourly EMA 100 is supporting BNB too, So we can count it as a potential level to bounce; But the volatility is suggesting a correction, However this correction can be a sideway cooldown !
Cause market will follow BTC's direction in macro view, But bulls won't leave the 48K's level for now to face another correction toward 44K.
So there is a possibility for BNB to go sideway for couple of days, But if BTC rejects to hold 48K , Then it will dive to retest the lower support zone at, Which is standing near the bullish trend zone !
So there will be another chance for bulls to defend their side with the logical pullback.
But both of the scenarios needs a confirmation for further movement...

What if BNB break above resistance ?
There are some major targets :
- $516.50
- $587.32
- $668.61

BTC needs to engulf $516.50 line before any confirmed bounce, Cause it's acting as a master candle on 12H's chart and the wick above is an important level to achieve !
After an engulf above the mentioned line, We'll might face another correction before the bounce above resistance zone .
If the this scenario happens, Then there will be only one weak resistance zone before ATH's resistance !
This zone is located at $563.42 - $598.81 as before mentioned above...
There is a high possibility for BNB to achieve the 2nd target after a hold above the major resistance.

The overview is currently bullish !
🔴 The bullish scenarios will be invalidated after a rejection below the lower support zone at $448.32 - $454.93.

Hope you enjoyed our analysis about BNB's possible directions🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades

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