BNB Bulls Getting Ready For Another Swing

BNB Bulls Getting Ready For Another Swing

Price Analysis

Binance Coin seems to be on the quest to touch $50. It is currently trading at $30.25. Price is trading near the baseline. BNB is moving way above the trend line. The trend is extremely bullish. The trend seems to lose momentum for a while. After a small correction, we can see an upward swing. Global xchange.

RSI is moving toward the oversold zone. RSI is at the value 51.702. Stochastic is about to go into the oversold zone. Price is moving above the trend line. Globalxchange. Ichimoku cloud is indicating a bullish trend in the market. Conversion Line is moving above the baseline. MACD is also showing a decrease in the momentum of the trend.

Strategy

Global xchange. Binance can touch the target of $50 if the trend continues. The maximum correction we can see up to $22.6. Binance is showing some correction. Global xchange.

RSI can reverse around the value of 40. Price is moving above the 50MA. Global exchange. To take the trading position wait for the correction to get over. Chances are soon we will see another breakout in the upside direction. Next target for BNB will be $50.