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Technical Analysis for BNBUSD for 29th March 2022

BNB Adds 33% from 2022 Lows, Buyers Targeting $535

Past Performance of BNB

The recovery of crypto assets across the board is positively impacting BNB. The coin is steady and up eight percent against the USDT in the previous trading week at spot rates. Specifically, BNB is retesting a crucial resistance level. As momentum builds up and traders find entries, BNB prices may break above $435, registering a two-month high in a buy trend continuation pattern.

BNB Technical Analysis

BNB is trading within a bullish breakout pattern as per the candlestick arrangement in the daily chart. With bulls flowing in and on the cusp of clearing $435, aggressive BNB buyers may load the dips with targets at Q1 2022 highs at $536. A comprehensive buy breakout above $435 cements bulls' conviction, building a solid base for another leg up towards Q1 2022 highs. On the reverse side, price contractions below $410 could slow down the uptrend as a bullish engulfing pattern forms.

What to Expect of BNB

BNB is bottoming up, racing 33 percent from 2022 lows as confidence grows. The reaction at $435 would determine the short to medium-term trend for BNB.

Resistance level to watch: $435

Support level to watch: $410

Disclaimer: Opinions expressed are not investment advice. Do your research.

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