$BNB , $KAS, and $RENDER Rebound from Support
With Bitcoin (BTC) possibly recovering, other cryptocurrencies are gaining momentum. Notable performers include Binance Coin ($BNB), Kaspa ($KAS), and Render ($RENDER), all bouncing from key support levels.
BNB Aims for Another Breakout
On the weekly chart, BNB has been moving sideways since mid-March, similar to Bitcoin. A descending trend line has been respected, with two failed breakouts in June and one in late September. Now, BNB is turning upward again, with potential to retest the trend line.
Fibonacci levels have been key in determining support and resistance. A notable drop to the 0.618 Fibonacci level occurred during the Japanese stock market crash, highlighting its significance.
$KAS Bounces from 0.618
Fibonacci Support
Fibonacci levels are also important for $KAS. The coin is bouncing strongly from the 0.618 level. The 0.5 level provides resistance at $0.15. Bulls hope the recent lower low wonât impact future growth. If $KAS breaks above the 0.5 Fibonacci, a descending trend line break could follow.
RENDER Another Higher Low
RENDER continues its upward trend, reaching a higher high at $6.84. After bouncing from $5.30 support, it may form another higher low.Fibonacci levels align with upcoming resistances: $7.40, $9.85, and $11.61. The all-time high is $13.82.
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