BNB/USD quotes are traded at 524.35 and continue to move as part of the correction and the formation of the ”Wedge” model. Moving averages indicate a short-term bullish trend for Binance Coin. Prices broke through the area between the signal lines downward, 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 small correction in the value of a digital asset and a test of the support level near the 510.55 area. Where can we expect a rebound upward again and a continuation of the rise in the Binance Coin rate with a potential target above the level of 695.05.
Binance Coin Weekly Forecast January 3 — 7, 2022
A test of the support line on the relative strength index (RSI) will be in favor of raising the BNB/USD quotes. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 445.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 375.05. With the breakdown of the resistance area and closing of quotations above the level of 595.05, we should expect confirmation of the development of the bullish momentum on Binance Coin and the beginning of the development of the ”Wedge” model.
Binance Coin Weekly Forecast January 3 — 7, 2022 implies an attempt to correct and test the support area near the level of 510.55. Where can we expect a rebound and continued growth in BNB/USD to the area above the level of 695.05. An additional signal in favor of raising the Binance Coin coin will be a test of the trend line on the relative strength index (RSI), as well as a rebound from the bullish channel. Cancellation of the growth option will be a fall and a breakdown of the 445.05 area. This will indicate a continued decline in cryptocurrency with a target below 375.05.
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