The one who is a fighter gains the world! This ancient saying is more relevant than ever for the BNB cryptocurrency. After the volatile weekly candle of 9 May, sellers weakened significantly. For the past 3 weeks, the BNB price has been moving in a narrow consolidation corridor and has not responded to Bitcoin provocations. However, sellers did not release the BNB price above the critical points for the downward trend. As a result of weak but confident and systematic pressure from sellers, the BNB price on 6 June did not keep and broke the local resistance zone of $290 down. Globally, the situation has not changed in the weekly timeframe. Source: https://www.tradingview.com/x/HQemTTU4/ Moreover, in the previous article we expected the $262 fall and test to continue. It is from the $262 range that it is safer to buy BNB cryptocurrency for a medium-term price rebound with a first target of $335. Why such modest targets? The BNB price from November 2021 is in a downward trend. Until buyers fix above the red trend line and show a willingness to keep the BNB price – to predict large price movements up is still meaningless. The global critical point for the downward trend is $380. After punching it up and keeping it after the local correction, you can safely declare a change in the trend in the BNB market. In the meantime, we should be satisfied with small price rebounds from strong liquidity levels. BNB Technical Analysis On The Da...
