BNB Technical Analysis: Should We Expect The Fall To $213?
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Note that in March 2021, buyers on increased volumes could not control the $264 range for the first time. In May 2021, fixing the price above $264 allowed buyers to start a new growth wave with the final target of $669. If you consider the mark of $213 to buy BNB - this is an extremely strong level, where the price is not so common. This liquidity zone reflected all the most powerful fall waves and formed false breakdowns. The $213 mark is the critical point of the BNB growth trend. It will be dangerous to invest in the BNB below.
BNB Technical Analysis
Analyzing the movement of the BNB price on the daily timeframe, we can see a local loss of initiative from buyers. After buyers tried to take control of the $335 mark on 23 May, sellers began to counterattack quite actively. The last attempt of buyers on 31 May to break the mark of $335 up did not update even the previous local high. Thus, a local correction fall channel was formed on the daily timeframe. The nature of the fall is not yet threatening for the global rebound of BNB price. The probability of the price falling to $264 is quite high. On this note, the risk of buying BNB is justified. By placing a short stop order, you can catch a short-term trade with a target of $335. To be more confident in buying BNB in the long and medium-term, buyers need to take control of the $380 mark.
The BNBBTC Price Is On The Verge Of The Critical Point Allowed For Growth
Over the last 4 weeks, the global situation in the BNBBTC market has not changed. Global consolidation continues. Buyers attempted to grow BNBBTC price to the upper consolidation limit during the trading week of 23 May. However, this attempt was, to put it mildly, unsuccessful. The liquidity level of 0.01 is at risk. During the attack on sellers on 9 May, the weekly candle, although it broke the mark of 0.01, but closed above it.
Losing control of the 0.01 mark will mean that the BNB price will continue to fall by up to 20%. Therefore, when buying BNB, be sure to keep in mind the risks. Although the BNB is one of the strongest cryptocurrencies, which is well kept in the global decline of the cryptocurrency market.