![]() This bullish divergence shows a higher possibility for price recovery from $210 support. Relative Strength Index: Despite the sideways price action, the weekly-RSI slope shows apparent growth, which undermines the underlying strength of a price trend. Having said that, the Binance coin will need a weekly candle closing above the $340 resistance to bolster a sustained bullish recovery in 2023. The post-breakout rally may push the price 16% higher to hit the $300 psychological resistance.Ĭonversely, a daily candle closing below $255 will offset the bullish thesis. If the altcoin sustains above the breached resistance, the buyers will obtain suitable support to carry forward the price recovery. On January 4th, this price recovery gave a massive breakout from the local resistance of $255, offering further growth potential for holders. Thus, with the new year recovery in the crypto market, the BNB price has recently rebounded from the aforementioned support zone. In addition, the weekly chart showed some long lower price rejection candled at his support, indicating the buyers are aggressively defending this level.Īlso read: More Trouble For Binance As License In Europe In Question? Historically, the $210-$200 support managed to undermine two major downfalls, that of May 2021 and May-June 2022. ![]() This range is stretched from $340 to $220 and has limited the BNB growth for the time being. The weekly technical chart indicates Binance coin has been stuck in a range-bound rally for the past eight months.
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