Binance Coin Don Bounce Near $860 Resistance, Dey Eye $1,100
Di price of Binance Coin (BNB) don recover pass key moving averages after e bounce back from low of $729. Di current BNB price wey be $843.30 dey just under di $860 resistance level, as traders dey wait for breakout. Di short-term momentum of BNB price dey supported by 21-day SMA wey dey slope upwards and dey pass 50-day SMA, show say uptrend dey for both daily and 4-hour charts. If e fit break di $860 level well, e fit push Binance Coin go 1.618 Fibonacci extension wey dey $1,058.70 and maybe test $1,100. Di main support levels still dey for $800, $600 and $550. Overall, price action for Binance Coin still dey bullish as long as e dey hold pass 21-day SMA.
Bullish
Di bullish kategorizashen dey come from how BNB don dey recover steady pass some important moving averages and how e don try $860 resistance level many times. For both daily and 4-hour chart, the 21-day SMA wey cross pass the 50-day SMA and the moving averages wey dey go up mean say strong upward movement dey. Historically, when BNB break similar resistance zone about $800 for July, e come lead to rally reach $900 and even pass am. The current consolidation below $860 mean say dem dey gather before e fit breakout, e get support from Fibonacci extension targets for $1,058.70 and psychological resistance near $1,100. Short term, if e move sharp pass $860, e fit trigger bullish trade, and long term, if e steady pass the 21-day SMA, e fit attract buyers wey dey follow momentum and make the upward trend strong.