Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The $278 mark and its vicinity had a strong confluence of resistance levels Traders can wait for a lower timeframe break in the structure downward before shorting Binance Coin has recovered from the sharp plunge […]
. The king of crypto was able to climb past the $17k mark, and at press time stood at $17.2k. It faced resistance at $17.3k and $17.6k. A breakout past these levels could usher in another move upward across the crypto market.Source: BNB/USDT on TradingView
The other path was consolidation between $260-$280 for BNB. Like the consolidation in late December, this could give bulls time to reload ammunition before launching BNB higher. This was a more unlikely scenario, as Bitcoin faced intense resistance at $17.6k.A more likely path was a rejection in the $275-$280 area. The swift move upward has left fair value gaps on the chart that the price could seek out.
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