📊TECHNICAL ANALYSIS ON 1-HOUR TIMEFRAME
A short time ago price reached the support level, which coincided with the 211 support zone and then it rebounded below this zone. But then, it at once rolled back to the 211 level, and this time BNB broke this level and made a strong impulse up to the 217 resistance level, which coincided with the resistance zone. After this movement, BNB made a little correction below to 213 points and then repeated the impulse up to the trend line, thereby breaking the resistance level. When the price reached the trend line, it started to decline inside the wedge, and in a short time, BNB declined below the 217 level to the support level. Also recently it rebounded up from this level, breaking the trend line, thereby exiting from the wedge and making a retest. Now Binance Coin trades near and I expect that the price can make a correction to the support level and then rebound up. Therefore I set up my target at the 125 level.
📊QUICK FUNDAMENTAL LOOK
BNB price (Binance coin) is still struggling to clear the $220 resistance against the US Dollar. The price could decline heavily below the $210 and $202 support levels.
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