BNB Technical Analysis

BNB is currently trading around 29.1$. Technical Analysis of the price action shows the possibility of a healthy retracement to the first support line on Fib Retracement ( 0.382) reaching 28.25$. However passing the resistance of 29.84$ - 0.618 on Fib Retracement- will eventually take BNB to higher levels of approximately 30.44$.

On the chart, you can observe the bullish signal of 200EMA and 40 EMA, however, the buying volume in the last 8 hours have been decreasing. If you are planning to enter a long, I recommend a confirmation for your position using the MACD indicator in this case.

Entering a short position should be after breaking the support trendline of 27.29$, which in this case is rare to predict, especially with all the hype in the markets.

Trade wisely, this is not a financial advice. 

Feel free to comment your opinion, give a like, tip and a follow. 

Thanks for your attention,

Crypto Army