CHART PATTERN:
The pair appear to be creating an ascending triangle and be prone to a new downturn. We will likely see BNB try the 312 level once more before having any kind of breakthrough.
OSCILLATORS:
Stochastic and RSI are rapidly approaching oversold areas hinting a possible an upward rally in the next few hours/days.
LIKELY SCENARIOS:
- OPTIMISTIC - If...
BTC stays bullish and confirm my prediction of last week. We are seeing higher highs and higher lows to signify a growth in the price even if not at the fast pace at which BTC have made us accustomed to in the last months. This almost sideways trading is good to create a strong support level in the range 41 to 43 thousands. the next resistance appear to be around...
DeFi has been the hot topic of this bull run but in the past days as the market tanked DeFi followed showing that it is still deeply connected to the trend set by BTC. As most of the other assets it also shows potential to continue its upward run in the next days, the upward trend started in January hasn't been broken and the index seem to fluctuate mostly in the...
BNB have seen a very rapid and abrupt surge in the recent time, for this reason is very complicated to find what will be support or resistance levels. I think in the past few days we have seen the bulk of profit takings and now we are ready for a new surge in the price. As I was saying the surge has been abrupt and extremely fast for that also the fell has been of...
the previous resistance at 1200 become a resistance and have held in the last few days, if not broken it will fuel the upward trend of ETH, if broken, that I believe an unlikely scenario, we could see a steep decline to the next support around 800.
the short term support has been tried and have hold so far. we could see a continuation of the upward trend. Volume will be of prime importance in the next days.
Using resistance and support analysis combined with trend lines I think BNB have broken its trend and is due to a new rally. The new rally could be shortly lived if it fail to break the resistance at 310 in which case we could see it tumble down toward it's first support line, that I believe to maintain a certain strength even after yesterday breaking or even the...
