BNB/USD quotes are trading at 581.18 and continue to move as part of the correction and the downward channel. Moving averages indicate a short-term bearish trend for Binance Coin. Prices went down from 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 area of 595.05. 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 495.05.
Binance Coin Forecast November 25, 2021
In favor of reducing the BNB/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the coin fall option will be a strong growth in the value of the asset and a breakdown of the 630.55 area. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the level of 685.05. With the breakdown of the support area and closing of quotations below the level of 545.05, we should expect confirmation of the development of the downward trend in Binance Coin and the start of working out the ”Wedge” model.
Binance Coin Forecast November 25, 2021 implies an attempt to correct and test the resistance area near the 595.05 level. Where can we expect a rebound and the continuation of the fall in BNB/USD to the area below the level of 495.05. An additional signal in favor of the fall in Binance Coin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 630.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 685.05.
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