Lokesh Gupta
14-03-2024
Since February 2024, Binance has created six consecutive weekly bullish candlesticks.
$BNB surges above $550 resistance with bullish momentum, signaling potential rally extension beyond $650.
#Binance coin surged over 43% this week, reaching $613, spurred by the announcement of BEP 336 upgrade.
$BNB is now outperforming Bitcoin and Ethereum, up by 8%, and it broke the $600 resistance zone.
A rounding bottom pattern is currently influencing the upward trendline in BNB's price.
Yesterday, BNB formed a high of $633, the highest price since December 2021.
However, a retracement has been observed, with the price trading near $610 and maintaining support at $600, as well as the 78.60% Fibonacci level.
As per CoinGabbar Prediction, If Binance exceeds $635, it might challenge the $675 resistance, with the possibility of reaching $700 if it sustains this level.
In a bearish market, BNB may fall to $550, and could drop further to $500, highlighting cryptocurrency market volatility.
KEY LEVELS :
RESISTANCE LEVEL : $650-$700
SUPPORT LEVEL : $580-$540
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
1 year ago
Its Great to hear this..
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