BNB cryptocurrency can be expected to rise further toward the next resistance level 750.00 (former support from the start of October).
- BNB reversed from key support level 680.00
- Likely to rise to resistance level 750.00
BNB cryptocurrency recently reversed up from the support zone between the key support level 680.00 (which stopped the previous correction 2 at the start of September, as can be seen from the daily BNB chart below), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse (1) from July. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer, which completed the intermediate ABC correction (2) from the start of October.
Given the strength of the support level 680.00, the bullish divergence on the daily Stochastic and the cautiously bullish sentiment around BNB as Binance restores withdrawals after the recent security incident, BNB cryptocurrency can be expected to rise further toward the next resistance level 750.00 (former support from the start of October).
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
