BNB Technical Analysis

Explore the current bullish trend of Binance Coin (BNB) and its ongoing corrective wave within a descending channel after encountering resistance. Anticipate price oscillation within the channel's bounds, with a potential resumption of the main bullish trend upon reversal patterns. Beware of a shift to bearish if the lower support zone is breached downward.

1/15/20241 min read

BNB analysis - Bullish trend, corrective wave in a descending channel, potential reversal patterns,
BNB analysis - Bullish trend, corrective wave in a descending channel, potential reversal patterns,

The primary trend for BNB is bullish. Following its encounter with resistance, it has initiated a corrective wave.

• Presently, a correction is apparent, taking the shape of a descending channel.

• It is anticipated that the price will continue to oscillate within the upper and lower bounds of this channel.

• Should reversal patterns emerge, the main bullish trend is expected to resume. Conversely, if the lower support zone is breached downwards, the Binance Coin trend will shift to bearish.