Given the strength of the nearby support level 582.00 and the bullish sentiment seen across the cryptocurrency markets, Binancecoin can be expected to rise to the next resistance level 680.00 (former top of wave 2 from the middle of March).
- Binancecoin broke resistance trendline
- Likely to rise to resistance level 680.00
Binancecoin cryptocurrency recently broke the resistance trendline from the middle of March (as can be seen from the daily Binancecoin chart below). The breakout of this resistance trendline continues the active short-term corrective wave ii from the end of March. The price earlier reversed up from the support zone between the pivotal support level 582.00 (which has been reversing the price from the start of February, as can be seen below). The upward reversal from the support level 582.00 created the daily Japanese candlesticks reversal pattern Bulling Engulfing – strong buy signal for Binancecoin.
Given the strength of the nearby support level 582.00 and the bullish sentiment seen across the cryptocurrency markets, Binancecoin can be expected to rise to the next resistance level 680.00 (former top of wave 2 from the middle of March).
