BNB Technical Outlook
Analyzing BNB on a daily time frame, we see that the ascending channel structure is still standing. The main trend is upwards and thus seems positive. What is more, the price has reached $885 — all-time high (ATH) level as of today. BNB is currently trading around this level.
The price has broken the resistance level at $861, above which we have another upper resistance range between the levels at $892 – $928, which is both the upper border of the channel and where sellers could step in. Approaching the $900 level could mean hitting trend resistance. If this level gets broken, a technical target equal to the channel width can be calculated. This target points to $1500 in the medium term.
We should be monitoring the following support levels in case of a pullback:
- $861
- $830
- $790
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However,traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
