Good afternoon, esteemed colleagues.
Today’s focus is on the BNB cryptocurrency. We will delve into a retrospective analysis of the review I shared with you back in June.
For those who missed the previous review, I strongly urge you to catch up on the earlier trading idea. This will ensure you are well-informed and won’t overlook any critical details. You can find the link below.
Crucial Crossroads: Analyzing Possible BNB Coin Movements! Part 4
A quick reminder: In the previous review, I presented three potential scenarios for the movement of the BNB coin. As anticipated, I cautioned that the coin might decline to the price level of $220 per BNB coin.
What lies ahead on the horizon?
Let’s examine the graph and decipher it collectively.
The graph depicts the coin’s trajectory from 2021 up to the current day. Notably, there is a distinct support zone in the range of $210 to $225 (highlighted in a shade of orange-grey). Another notable point is the final frontier at $188. We can observe that at the close of 2021 and in June 2022 (marked in green), the price reached $188. Following this juncture, a reversal occurred, heralding an upward trajectory.
Fast-forward to today!
During the night, the price experienced a substantial plummet, reaching the aforementioned support zone (indicated in orange-grey). It remains uncertain whether the price will sustain its descent until the end of the support zone or if it will plummet further to $188. The future remains enigmatic.
Let’s discuss possible scenarios:
1. The price might dip to $210, pivot, and then resume an upward trajectory, targeting $330, which corresponds to the nearest resistance zone (highlighted in green).
2. Alternatively, the price could decline to the global support line at $188, reminiscent of past patterns, pivot, and initiate another upward climb (highlighted in blue).
3. On a more cautionary note, the price could persistently decline below $188, breaching this crucial level and resulting in a significant collapse.
Stay tuned for further updates as we navigate the unfolding BNB landscape. Your insights and observations are greatly valued in our collective analysis.
