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BNB’s stirring, hinting at a comeback! But a climb isn’t guaranteed. Several formidable resistance barriers stand between it and a potential price explosion. Will it shatter through, or be pushed back down? Keep a close watch.
BNB weathers a turbulent day, riding a rollercoaster between $886 and $924. Currently priced at $919, BNB is down 1.5%, but don’t count it out just yet. After a dip, it’s clawing its way back, hinting at a potential rebound towards the day’s high.
BNB’s recent ride has been a bit bumpy. The past week saw a 5.6% dip, like a gentle slide down a hill. Zooming out to the last two weeks, we see a more measured 2.7% decrease – a slight detour on the road to the moon.
BNB’s market cap currently sits at $127.09 billion, a 1.7% dip in the last day. This stumble, mirroring Bitcoin’s fall below $90,000, has spooked speculative traders. Is BNB poised for a comeback and a resistance retest, or will the bears maintain their grip?
BNB Price Analysis
BNB/USD is showing a flicker of life on TradingView, a fragile green shoot pushing through a field of thorns. After months of bearish pressure, a minor rebound is underway, but don’t mistake it for a full-blown reversal. Bulls face an uphill battle. Overhead, the Tenkan-sen, a sapphire-blue sentinel at $952.67, and the Kijun-sen, a crimson wall at $1,033.50, stand guard, repelling any advance. Clearing these hurdles is crucial for BNB to even contemplate a run towards $1,100. For now, it’s a cautious watch, not a victory celebration.
BNB
“The Ichimoku Cloud looms like a crimson warning sign at $1,109.66, a formidable barrier. Its ominous shift to red hints at a brewing storm – expect bearish pressure to intensify.”
The Awesome Oscillator paints a somber picture: a negative histogram screams waning momentum, a market starved of buying power. Yet, a flicker of hope remains. BNB clings to $885.83, a crucial support that could be the launchpad for a rebound. Watch this line. Break it, and we plummet. Hold it, and we might just see a phoenix rise from the ashes.
A Bullish Divergence Incoming?
BNB teeters on the edge of glory! Cryptorphic’s November 17 analysis reveals a fierce battleground between $900 and $925. Can BNB summon the bulls in the 4-hour timeframe and break free?
BNB is clinging to a critical price point, a level that’s historically propped it up. But beneath the surface, a bullish divergence is brewing – price action is flatlining, yet the RSI is quietly building momentum with higher lows. Could this be the calm before a surge? Keep a close watch; the bulls might be ready to charge.
Cryptorphic signals a pivotal moment for BNB: A surge past the descending trendline could uncork a bullish bottle, sending prices soaring. Conversely, a slip below $880 would shatter the bullish dream and crumble the existing support.
Thanks for reading Here Are Key Resistance Levels BNB Must Break to Reach $1109
