BNB/USD quotes are trading at 381.70 and continue to move as part of the fall and the beginning of the bearish Wolfe Wave pattern. The moving averages indicate a short-term bearish trend for Binance Coin. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop a small correction in the value of the digital asset and a test of the resistance level near the area of 405.05. Where can we expect a rebound down again and a continued fall in the Binance Coin rate with a potential target below the level of 165.05.
Binance Coin Weekly Forecast February 21 — 25, 2022
In favor of falling 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 coin’s fall option will be a strong increase in the value of the asset and a breakdown of the 495.05 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 700.05. With the breakdown of the support area and the closing of quotes below the level of 310.05, we should expect confirmation of the development of the bearish momentum for Binance Coin.
Binance Coin Weekly Forecast February 21 — 25, 2022 suggests an attempt to correct and test the resistance area near the level of 405.05. Where should we expect a rebound and a continuation of the fall of BNB/USD to the area below the level of 165.05. 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 495.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 700.05.
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