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,](https://assets.zyrosite.com/cdn-cgi/image/format=auto,w=1018,h=607,fit=crop/mP4DRvxXEycnaE1Q/2-YBgyDGaqZZsZl660.png)
![BNB analysis - Bullish trend, corrective wave in a descending channel, potential reversal patterns,](https://assets.zyrosite.com/cdn-cgi/image/format=auto,w=328,h=196,fit=crop/mP4DRvxXEycnaE1Q/2-YBgyDGaqZZsZl660.png)
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.