Binance coin (BNB) has started a new attack after its rise to $ 148 last week. The asset retracement tested resistance levels several times after the recovery period.
Finally, the asset tested the $ 136 resistance level the other day and failed. However, BNB attempted to retest during the day and suffered a partial retracement. The asset was trading at $ 134 at the time of writing and is again containing bullish signals for ATH.
Altcoin mobility has resulted in good developments for BNB as in many altcoins. The entity went on a bull run on its way to retest its ATH. The asset had come with the upward effect since February in the realization of ATH, which it gained during the month. An explosion seems to be imminent for the entity that has trapped this effect in a horizontal channel for some time. It is seen that the Bollinger bands have narrowed considerably due to the low volatility.
Indicators with positive effects can be seen as MACD and RSI. The MACD is trending to recover in the past few hours. RSI, on the other hand, seems to push the presence that has been in the overbought territory for a while to a more neutral range. The local presence of the world’s largest stock exchange offers a very high OBV data. The recovery and high demands seen in the CMF data may bring the continuity of the increase.
The BNB value is above the 25-SMA value. This can be considered as an indicator for the continuity of the rise. Apart from that, it will seek a new support point on the moving average in the continuation of the rise.
Conclusion and Possible Levels
Binance coin is seeking support for itself with its high volume and bull effect. The asset can take action to overcome the $ 140 band again with the upcoming dynamism with the effect of demand. On the other hand, the speculative increase in selling pressure may press the price downward again. The possibility of falling below $ 100 will pave the way for investors’ buying signals in new profit centers. With exceeding the resistance level, it is also possible that the road to ATH is opened and the level is reached again.