After BNB recorded more than 44 %, he suffered a decline that questioned his ascending dynamics. Discover Elyfe analysis and decrypt BNB technical perspectives.
BNB course situation
After recording a new summit at $ 725, the BNB course caused the dealer interest, which caused 44 %to withdraw. This lower movement led to a cryptocurrency of up to $ 403, the new interest of the buyer was reflected, allowing BNB to re -incorporate the support area of around $ 470.
Subsequently, the asset was consolidated in the form of an ascending triangle. The bull edition of this technical structure has triggered a new phase of BNB expansion, which then called the new ATH to $ 794.
However, this ascending dynamics did not last. The price of BNB started withdrawal and initially found support around $ 650. Despite the reflection attempt at this level, the sale of pressure on the cryptocurrency market caused a continuation of the decline.
BNB tested the first support for $ 508 than with a second rebound around $ 560. At that time, a new interest of the buyer was reflected and was driven by the price towards the resistance of $ 740. However, the asset could not exceed this threshold again, involving the new corrective phase.
At the time of writing, BNB is agreed around $ 630. In the short and medium term, the trend remains below, as evidenced by the SMA 50 and VWAP, both located above the current course. However, it is important to realize that the trend of the background remains ascending, supported by a mobile diameter of 200.
It is not surprising that the bruise of BNB dynamics has slightly weakened since the last reflection. This loss of momentum is reflected not only in the price but also in technical oscillators that show slight renewal.
The current technical analysis was carried out in cooperation with ElyfeInvestor and popularizer in the cryptocurrency market.
Enlargement of derivatives (BNB/USDT)
In recent weeks, we have observed the current increase in open interest and basic course, signaling the growing interest in the permanent BNB/USDT contract.
However, increasing BNB down has led to a reduction in open interest, suggesting progressive cancellation of speculative positions.
The decrease in CVD accelerated and signaled the dominance of ongoing sales orders. At the same time, the negative amount of funding confirms the persistent sales pressure on BNB/USDT contracts. This dynamics reflects the return of retailers’ aggressiveness to BNB, which increases the risk of continuing withdrawal unless no reversal of shopping streams shows up.
Laying BNB has led to a slight disposal of shopping positions after a break of $ 630 support. These disposal reflect increased sales pressure and significant volatility on cryptocurrency, which weakens the dynamics of purchase.
The thermal card disposal by the disposal of BNB/USDT of eternal contracts shows that the cryptocurrency exceeded the significant liquidation zone, which was identified around $ 620. However, it does not seem to cause significant orders affecting its course.
Now there are key liquidation zones on both sides of the current course:
- Above, the first liquidation zone is identified around $ 700, followed by a much larger area, between $ 730 and $ 770. Even higher is an area of $ 800 significant level.
- The liquidation below is really obvious. However, the finer area emphasizes 584, $ 565 and $ 539.
These thresholds represent the main infection points for the market. Access to the price to these levels could lead to massive activation of orders, thus playing a key role in the next movements depending on the dynamics of supply and demand.
Forecasts for the BNB course
- If BNB manages to keep over $ 590, the recovery could allow it to re -integrate an area of $ 685, opening the path to resistance $ 740. Overcoming this threshold could then support the return to $ 760, then to ATH for $ 794, which would be an increase in approximately 27 %.
- Conversely, if BNB is unable to maintain a threshold of $ 590, it could find support around $ 560. A break at this level could cause a new correction to the $ 470 or even in the worst scenarios, up to $ 403. This would correspond to a decrease in approximately 36 %.
Conclusion
BNB oscillates between increase and repair. After the summit, the sales pressure caused a significant withdrawal, followed by a jump that powered a new bull pulse. However, this momentum was not durable, resulting in a new remedial phase. Currently, a short -term trend remains under pressure despite the purchase of buyers’ support in the background. Future development will depend on market ability to maintain positive dynamics. In this context, it will be necessary to carefully monitor the strategic price response to confirm or modify the current forecasts.
Finally, remember that these analyzes are only based on technical criteria and that cryptocurrencies can develop rapidly according to other basic factors.
Are you interested in this study? Find our latest bitcoin analysis.
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Elyfe specialist in technical analysis decrypts graphic trends on the markets of cryptocurrencies with strict and constantly evolving approach. Through its detailed analyzes, it brings an enlightened view of prices dynamics, helps investors and enthusiasts better understand and predict market movements.
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