Price Action Analysis for Coin #BNB
The $BNB shows strong bullish momentum on the daily timeframe, with the price currently trading at $719.80. The price has successfully broken through the pivot point and freed itself from the ascending channel illustrated by the dotted lines, indicating strong buying pressure. Based on the Fibonacci tool data, the upcoming movement levels are as follows:
Pivot Point (PP): Located at $664.20, it has now turned into a strong support level, reinforcing the continuation of the bullish trend as long as the price remains above it.
Targeted Resistance Levels: After breaking the first target (TP) at $689.98, the price is now heading towards the following targets: TP2: $728.44, followed by the final target at TP3: $773.94.
Protective Support Levels: In the event of a corrective pullback, the following support levels emerge to safeguard the trend: ST1: $633.68, then ST2: $610.26, down to ST3: $589.10 and the last safety valve at ST4: $570.31.
The most likely scenario is a continuation of the bullish momentum towards the second target TP2, while monitoring price interaction at this level.
#BNB #BinanceCoin #Crypto #AIMONACCI
The $BNB shows strong bullish momentum on the daily timeframe, with the price currently trading at $719.80. The price has successfully broken through the pivot point and freed itself from the ascending channel illustrated by the dotted lines, indicating strong buying pressure. Based on the Fibonacci tool data, the upcoming movement levels are as follows:
Pivot Point (PP): Located at $664.20, it has now turned into a strong support level, reinforcing the continuation of the bullish trend as long as the price remains above it.
Targeted Resistance Levels: After breaking the first target (TP) at $689.98, the price is now heading towards the following targets: TP2: $728.44, followed by the final target at TP3: $773.94.
Protective Support Levels: In the event of a corrective pullback, the following support levels emerge to safeguard the trend: ST1: $633.68, then ST2: $610.26, down to ST3: $589.10 and the last safety valve at ST4: $570.31.
The most likely scenario is a continuation of the bullish momentum towards the second target TP2, while monitoring price interaction at this level.
#BNB #BinanceCoin #Crypto #AIMONACCI