During the past few weeks Binance Coin has been trading around the 50% Fibonacci retracement level, that is $11.5 support. Yesterday the support has been rejected cleanly along with the 2/1 Gann Fan trendline.
The double bottom has been formed, although price still stays above the 200 Moving Average, which might prevent BNB/USD to go higher at this point. Break and close above the Moving Average could be the confirmation of the uptrend continuation, sending the price up to the one of the Fib resistance levels.
First resistance is seen at 61.8% retracement, that is $17.7. Second and key resistance is seen at 88.6% Fibs, that is $23 level corresponding to the uptrend trendline.
But if price stays below the MA, Binance Coin could go lower, towards the next support level at $10, that is 61.8% Fibs and also a key psychological support. If $10 is broken, further downtrend can be expected, where price will decline towards the previous support near $5.5 area.
Source: http://cryptopost.com/binance-coin-trading-at-the-support/
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