Technical Analysis for BNBUSD for 25th October 2022
Binance Coin Broadly Bullish, BNB Adds 7% from September Lows
Past Performance of BNB
Binance Coin Technical Analysis
BNB prices are within a bullish formation, finding support at around the 50 percent Fibonacci retracement level of the June to August trade range. This level flashes with the primary support defining September lows at around $260. Since BNB is higher and within the bull bar of October 23, aggressive traders may load the dips above $260, targeting $300 or September highs. If not, reversals from spot rates to below $260 invalidate this bullish preview, swinging price action in favor of mid-August 2022 bears.
What to Expect from BNB
BNB is in a $40 range and mainly bearish because of mid-Q3 losses in August. However, from a top-down preview, traders have a chance if $260 holds and bulls flow back to prop optimistic traders.
Resistance level to watch: $300
Support level to watch: $260
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