The image on the right shows the long-term Bainance channel from 2018. As can be seen, the important support line seen in the long-term channel has been broken. Binance tries to pull back this broken support (which has now become resistance.)
three important resistances must be broken to confirm the trend change (downtrend to uptrend)
1- Stable resistance in the of $ 430
2. Important MA 40 bricks resistance in Renko chart ($ 440 to $ 450)
3- Long-term trend resistance line ($ 500 which Binance is trying to pull back to this area)
If resistances 1 and 2 break, the target price will be around $ 500
three important resistances must be broken to confirm the trend change (downtrend to uptrend)
1- Stable resistance in the of $ 430
2. Important MA 40 bricks resistance in Renko chart ($ 440 to $ 450)
3- Long-term trend resistance line ($ 500 which Binance is trying to pull back to this area)
If resistances 1 and 2 break, the target price will be around $ 500