With a strong daily uptrend and bullish sentiment prevailing in the cryptocurrency markets today, it is anticipated that the BNB cryptocurrency will climb to the next resistance level of 850.00, which had previously halted the upward momentum in July.
- BNB has bounced back from a support zone
- Expected to ascend to the 850.00 resistance level
Recently, BNB cryptocurrency rebounded from a support zone encompassing the crucial support level of 740.00 (a former monthly high dating back to January, which has acted as a reversal point for BNB since July, evident in the daily BNB chart below), the lower daily Bollinger Band, the support trendline of the daily upward channel since June, and the 50% Fibonacci retracement level of the initial upward impulse from the end of June. This upward reversal from the support area put a halt to the prior intermediate ABC correction 2 from the end of July.
Given the robust daily uptrend and prevailing bullish sentiment in the cryptocurrency markets today, it is expected that the BNB cryptocurrency will advance towards the next resistance level at 850.00 (where the previous impulse wave 1 was halted in July).
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