BNB was one of the first top coins to exit the September correction. However, after the initial push upwards, BNB's price action has cooled down.
During this period of consolidation, BNB has formed a bullish channel. With BNB closing in on the top resistance of the channel, there're two options.
The bullish scenario would be for BNB to break through the top resistance of the channel. In that case, expect a push to $500. A minor retracement to confirm the channel's top trend line as support is expected.
The bearish scenario would be for BNB to get rejected from the resistance and fall back down. In that case, expect a bounce from the bottom support of the trend line.
Happy trading!
During this period of consolidation, BNB has formed a bullish channel. With BNB closing in on the top resistance of the channel, there're two options.
The bullish scenario would be for BNB to break through the top resistance of the channel. In that case, expect a push to $500. A minor retracement to confirm the channel's top trend line as support is expected.
The bearish scenario would be for BNB to get rejected from the resistance and fall back down. In that case, expect a bounce from the bottom support of the trend line.
Happy trading!
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