BNB/USD are trading at 527.21 and continue to move as part of the fall and the bearish channel. Moving averages indicate a short-term bearish trend for Binance Coin. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance level near the 545.65 area. Where can we expect a rebound again and the continuation of the fall in the Binance Coin rate with a potential target below the level of 475.55.
Binance Coin Forecast December 16, 2021
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 575.05. 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 635.05. With the breakdown of the support area and closing of quotations below the level of 505.05, we should expect confirmation of the development of a downward impulse for Binance Coin.
Binance Coin Forecast December 16, 2021 implies an attempt to correct and test the resistance area near the level of 545.65. Where can we expect a rebound and the continuation of the fall in BNB/USD to the area below the level of 475.55. An additional signal in favor of reducing the Binance Coin 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 575.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 635.05.
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