Will the launchpad on Binance increase the BNB price more?
Hello everyone, let's take a look at the BNB to USDT chart taking into account the time frame of one day. As we can see, the price came out on top, from the main downward trend.
Currently, we can see how the price is struggling with strong resistance at the golden point of 0.618fib, but further it is worth defining a very important resistance zone from $565 to $668. ONLY when the price breaks above this zone and tests it positively, we will be able to see a move towards $965.
In a situation when the resistance level cuts off the current increase, which is strongly supported by the launchpad, and the price starts to reverse, there is significant support at $373, then a strong level is $300, and then around $248.
On the RSI indicator we can see that a support line has formed, but there is still plenty of room for recovery, while on the STOCH indicator we are again above the upper limit, which may also lead to a price correction.
Currently, we can see how the price is struggling with strong resistance at the golden point of 0.618fib, but further it is worth defining a very important resistance zone from $565 to $668. ONLY when the price breaks above this zone and tests it positively, we will be able to see a move towards $965.
In a situation when the resistance level cuts off the current increase, which is strongly supported by the launchpad, and the price starts to reverse, there is significant support at $373, then a strong level is $300, and then around $248.
On the RSI indicator we can see that a support line has formed, but there is still plenty of room for recovery, while on the STOCH indicator we are again above the upper limit, which may also lead to a price correction.