Binance Coin Reverses from Support Zone, Technical Pattern Targets $630

Binance Coin reversed from a support zone between the 575.00 level and the lower daily Bollinger Band. The 575.00 level has been reversing the price from the start of February. The upward reversal started corrective wave ii, which belongs to impulse wave (3) from the middle of June. The reversal occurred amid bullish sentiment across cryptocurrency markets.

BNB Reverses from Multi-Month Support Zone

Binance Coin reversed up from the support zone between the multi-month support level 575.00 and the lower daily Bollinger Band. The 575.00 level has been reversing the price from the start of February. The upward reversal from this support zone started the active short-term corrective wave ii, which belongs to the intermediate impulse wave (3) from the middle of June.

Technical Pattern Targets 630.00 Resistance Level

The 630.00 resistance level stopped the previous intermediate corrective wave (2) earlier this month. The source article notes that given the strength of the 575.00 support level and bullish sentiment across cryptocurrency markets, the technical pattern suggests a potential move toward 630.00.

FAQ

What support level did Binance Coin reverse from recently?

Binance Coin reversed from a support zone between the 575.00 level and the lower daily Bollinger Band. The 575.00 level has been acting as support from the start of February.

What resistance level is the technical pattern targeting for BNB?

The technical pattern targets the 630.00 resistance level, which stopped the previous intermediate corrective wave (2) earlier this month.