Defimood
  • Market analysis
    • Cryptocurrencies – Trading Education
    • DeFi market analysis
    • Bitcoin analysis
    • Crypto Coin Analysis
    • Stock Market
  • General strategy
    • Long-term strategy
    • Medium-term strategy
    • Short-Term Strategy
  • Copy trading
    • Binance Copy Trading
    • Bybit Copy trading
    • Bitget copy trading
      • Short-term strategy
      • How to set it up correctly?
    • Bingx copy trading
      • medium-term strategy
      • Long term trade setup
  • Deposit management
  • Assistance to Ukraine
  • About us
    • Contact with us
    • PS_trade – Goals of our project
  • Українська
  • English
Archives
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • June 2022
  • May 2022
  • April 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
Categories
  • Bitcoin analysis
  • Crypto Coin Analysis
  • Cryptocurrencies – Trading Education
  • DeFi market analysis
  • Stock Market
Defimood

Copy Trading,
investments in cryptocurrency

Defimood
  • Market analysis
    • Cryptocurrencies – Trading Education
    • DeFi market analysis
    • Bitcoin analysis
    • Crypto Coin Analysis
    • Stock Market
  • General strategy
    • Long-term strategy
    • Medium-term strategy
    • Short-Term Strategy
  • Copy trading
    • Binance Copy Trading
    • Bybit Copy trading
    • Bitget copy trading
      • Short-term strategy
      • How to set it up correctly?
    • Bingx copy trading
      • medium-term strategy
      • Long term trade setup
  • Deposit management
  • Assistance to Ukraine
  • About us
    • Contact with us
    • PS_trade – Goals of our project
  • Українська
  • English
  • Crypto Coin Analysis

BNB: Investors Prepare for the Test of $730

  • 19.04.2021
Total
0
Shares
0
0
0
0
0

The middle of April in the BNB market was marked by a new all-time high, which buyers set at $638. After breaking the global critical range of $337-355, the coin price quickly began to form a new wave of growth. In just 4 days, buyers were able to raise the price by almost 80%. And they find a serious resistance zone for sellers at $550-570. In this range, large investors began taking profits, confirming the trading volumes:

BNB

Of course, in comparison with previous trading volumes, when buyers were approaching $337-355 on 19 February, now buyers look weaker. However, this did not stop them from updating the historical high. Also they partially gave the initiative to sellers for correction.

BNB price is in the phase of local correction

In addition, on the chart, we have shown a local white channel of the BNB price fall, which is within the global growth channel. If buyers fail to reverse sellers’ initiative in the market, the correction may drag on until at least the end of April. The aesthetic critical point for the growth scenario is at $387. Though, while buyers control the range of $337-355, the chances of the growth wave continuation are much bigger. Despite how frankly crypto coins fell on Sunday and broke all possible obstacles, it is better to select the strongest places for a potential reversal.

Weak correction in the market encourages further growth

Analyzing the BNB market situation on a lower timeframe, we see that the local fall wave corrected the growth wave from 25 March by 38.2%. A fairly modest correction, which indicates on two facts:

  • Despite the BTC fall on 18 April, BNB buyers did not allow a deep correction. In such a way they show their serious plans for the future.
  • Unsuccessful attempt of buyers to fix above $550-570 will lead to the continuation of the price movement in the white channel. However, this scenario will confirm that the BNB market continues a correction and not a trend change.

If we also analyze the situation on the BTC market, which certainly affects the BNB market, we see that the fall wave may be unfinished:

BNB

Since buyers could not keep the previous historical high at $61,699, their weakness will allow the BTC market to fall deeper, to $46,900. This scenario fits perfectly into the BNB concept, which we wrote about above. Therefore, the continued growth of the BNB market with the target of $700-730 is highly probable. Though, after the correction and the test of $355.

Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Related Topics
  • BNB market
  • BNB price analysis
You May Also Like
View Post
  • Crypto Coin Analysis

XRP Cryptocurrency – buyers have a chance to start an uptrend

  • defimood
  • 25.11.2022
View Post
  • Crypto Coin Analysis

Monero Cryptocurrency – Does this “grandfather” have a future?

  • defimood
  • 16.11.2022
View Post
  • Crypto Coin Analysis

SOL cryptocurrency – closeness with FTX can destroy

  • defimood
  • 15.11.2022
View Post
  • Crypto Coin Analysis

Polkadot (DOT) сryptocurrency – growth forecast to $10

  • defimood
  • 11.11.2022
View Post
  • Crypto Coin Analysis

VET Cryptocurrency growth prospect to $0.07

  • defimood
  • 08.11.2022
View Post
  • Crypto Coin Analysis

The future of the FTT token is in jeopardy

  • defimood
  • 08.11.2022
View Post
  • Crypto Coin Analysis

SUSHI Cryptocurrency – main target $3.3

  • defimood
  • 04.11.2022
View Post
  • Crypto Coin Analysis

MASK Cryptocurrency – what Elon Musk and Twitter have in common

  • defimood
  • 03.11.2022
Defimood
  • Market analysis
  • General strategy
  • Copy trading
  • Deposit management
  • Assistance to Ukraine
  • About us
  • Українська
  • English
криптотрейдинг, инвестиции в криптовалюту

Copyright © 2021 defimood.com All Rights Reserved.

Input your search keywords and press Enter.