BNB and ETH have been going through a good bullish rally along with BTC since last month and it is a very good sign for the Cryptocurrency market that all 3 crypto giants are going very well.
First we will discuss the chart of BNB which is currently trading at 627 BUSD and I guess it is at its 1st support line and then if it breaks its 1st support, the second one is the trend line below it making a triangle as shown below in the chart.
S1: 620
S2: 529
SL1: 610
SL2: 520
As per MACD trend reversal may occur from here but above zero means trend is on the upside and after correction, trend continuation is also possible.
Below is the ETH/BUSD chart. ETH is currently trading at 4635.
Chart Source: Binance mobile app
S1: 4600
S2: 4300
SL1: 4580
SL2: 4250
MACD indicator shows that trend reversal is a possibility and that saturation point reached. In other words, supply price point has reached. RSI is also towards down trend. In my suggestion a correction is inevitable for the long term bull rally. Lets see how it goes.
Legal Disclaimer: I am not a financial advisor and never give advise to take any trade. The purpose of the analysis is for information only and you have to do your own working before taking any trade. I will not be responsible under any circumstances for any kind of loss.
Best of luck!
