Today's analysis focuses on BNB.
Review of the Previous Analysis
Let’s start by reviewing the previous analysis.
In the last analysis, I mentioned that if the red box resistance trendline is broken to the upside, there is a high probability of the price rising to the next supply zone.
The price initially faced resistance at the 720 level (first resistance), retraced slightly, but eventually broke through and rose to the upper boundary of the blue box supply zone at 731.
The resistance occurred at the green box high within the blue box.
Subsequently, the price failed to break the high, leading to a corrective phase.
BNB Chart from a Buy Perspective
previous highs.
For new buy entries, it would be safer to wait for a breakout above the 738 level (red box).
Currently, with Bitcoin in a corrective phase and altcoins also struggling, entering at uncertain levels should be avoided.
If the price breaks above 738, a retest of the high—similar to what happened in the yellow box on the left—could occur, with a potential rise at least to the blue box supply zone.
From the daily chart, the resistance trendline has been drawn, extending from previous highs.
For new buy entries, it would be safer to wait for a breakout above the 738 level (red box).
Currently, with Bitcoin in a corrective phase and altcoins also struggling, entering at uncertain levels should be avoided.
If the price breaks above 738, a retest of the high—similar to what happened in the yellow box on the left—could occur, with a potential rise at least to the blue box supply zone.
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👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸