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BNB analysis – the growing trend remained unchanged. Price faces only resistance

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BNB continues its upward trend in the short term, although will face resistance that it may not overcome immediately. Nevertheless, the BNB has between top altcoins decent performance in recent days and in the short term reaching rising lows and highs. Does the last minimum also represent a long-term or only a short-term upward rebound?

Binance coin at the last minimum at the level of $ 515 tested the previous long-term local maximum. It’s about bull signal continuation of primary growth. The trend will face resistant zone around the local checkpoint $ 650. If the price fails at this resistance, then a sideway structure is at stake.

BNB / USD 4HBNB / USD 4H. Source: TradingView

The primary trend of the BNB remained unchanged

If a sideway structure is created on the Binance coin chart, it can remain in it for 2 weeks. Despite such stagnation, it would probably mean a bullish pattern for the price, after which the trend continued and the market would gain momentum.

At the moment, there is no high probability that the BNB price should fall below the aforementioned $ 515 support. The trend remained unchanged in the long run and still produces long-term higher lows and highs. Overall, the market itself has probably created a local minimum, and therefore the most bearish scenario for the BNB is the aforementioned sideway structure.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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