BNB/USD are trading at 369.59 and continue to move as part of the correction and descending channel. The moving averages indicate a short-term bearish trend for Binance Coin. Prices have broken through the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of the digital asset and a test of the resistance level near the area of 375.05. Where can we expect a rebound and a continuation of the fall in the rate of Binance Coin again with a potential target below the level of 305.05.
Binance Coin Forecast BNB/USD March 1, 2022
In favor of reducing the BNB/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to reduce the coin will be a strong increase in the value of the asset and a breakdown of the area of 395.05. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 465.05. With the breakdown of the support area and the closing of quotes below the level of 345.05, we should expect confirmation of the development of a downward momentum for Binance Coin.
Binance Coin Forecast BNB/USD March 1, 2022 suggests an attempt to correct and test the resistance area near the level of 375.05. Where should we expect a rebound and a continuation of the fall of BNB/USD to the area below the level of 305.05. An additional signal in favor of the decline of the Binance Coin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 395.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 465.05.
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