BNB/USD are trading at 423.99 and continue to move within the correction and the downward channel. The moving averages indicate a short-term bullish 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 430.55 area. Where can we expect a rebound and a continued fall in the Binance Coin rate with a potential target below the level of 320.05.
Binance Coin Forecast BNB/USD February 18, 2022
In favor of lowering 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 480.55. 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 505.05. With the breakdown of the support area and the closing of quotes below the level of 360.55, we should expect confirmation of the development of the downward momentum for Binance Coin and the price exiting the bullish correction channel.
Binance Coin Forecast BNB/USD February 18, 2022 suggests an attempt to correct and test the resistance area near the level of 430.55. Where should we expect a rebound and a continuation of the fall of BNB/USD to the area below the level of 320.05. 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 480.55. This will indicate a continued rise in the cryptocurrency with a target above the level of 505.05.
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