BNB → Price is showing an interesting bullish outlook

12 בדצמ׳ 2023

BNBUSDT breaks the resistance of bearish trend on the background of improving fundamental situation. For the activation of the bullish phase of the market, a few more conditions must be met.



We can see that TOTAL capitalization, following the BTCUSD growth, is also moving into a bullish trend format. BNB is falling away due to regulatory and governance issues. At the moment, the fundamental environment is improving and the price is starting to show interesting prospects.
The break of the descending wedge resistance is a strong enough signal, the price is testing the MA-50 support and the bulls are confidently consolidating their positions above the moving average. At the moment, the resistance of the current consolidation - 257.8 - is holding back the market from going bullish.
A break of this resistance will be accompanied by a surge in volumes, volatility and the formation of a bullish impulse.

Support levels: 226, MA50, 203.4
Resistance levels: 257.8

I expect a breakout of the mentioned resistance after the next retest. On the background of favorable conditions it may happen rather quickly. Targets are 336.8, 439.0.

Regards R. Linda!

12 בדצמ׳ 2023

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