BNB/USD quotes are trading at 604 and continue to move within the correction and bullish channel. Moving averages indicate a short-term upward trend for Binance Coin. Prices have broken through the area between the signal lines upward, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we can expect an attempt to develop a small correction in the value of the digital asset and a test of the resistance level near the 485 area. From where we can again expect a rebound upward and continued growth in the Binance Coin rate with a potential target above the level of 845.
A test of the support line on the relative strength indicator (RSI) will support an increase in BNB/USD quotes.
Binance Coin Weekly Forecast June 17 — 21, 2024
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 455 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 345. With the breakdown of the resistance area and the closing of quotes above the 655 level, we should expect confirmation of the development of bullish momentum for Binance Coin.
Binance Coin Weekly Forecast June 17 — 21, 2024 assumes an attempt at correction and a test of the support area near the level of 485. Where can we expect a rebound and continued growth of the BNB/USD cryptocurrency to the area above the level of 845. An additional signal in favor of the rise of the Binance Coin coin will be trend line test on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 455 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 345.
