BNB/USD are traded at 617.13 and continue to move as part of the correction and the formation of the ”Wedge” model. Moving averages indicate a short-term bearish trend for Binance Coin. Prices broke down the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop the growth in the value of a digital asset and a test of the resistance level near the 620.05 area. Where can we expect a rebound again and the continuation of the fall in the Binance Coin rate with a potential target below the level of 520.05.
Binance Coin Forecast December 3, 2021
In favor of reducing the BNB/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the Wedge reversal pattern. Cancellation of the option to reduce the coin will be a strong increase in the value of the asset and a breakdown of the 685.05 area. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 735.05. With the breakdown of the support area and closing of quotations below the level of 605.05, we should expect confirmation of the development of a downward impulse on Binance Coin and the start of the ”Wedge” model.
Binance Coin Forecast December 3, 2021 implies an attempt to correct and test the resistance area near 620.05. Where can we expect a rebound and the continuation of the fall in BNB/USD to the area below the level of 520.05. An additional signal in favor of reducing the Binance Coin coin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 685.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 735.05.