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Price experienced a drop of more than 2% today.
- Will BNB be able to hold on to the critical support at $319?
- What can BNB investors expect in the future?
Can Binance Coin drop to the $300 levels? Where are the critical support and resistance levels that BNB investors need to follow? Current BNB Analysis!
Medium-Term BNB Price Analysis!
Daily Binance Coin Price Chart Source: TradingView
Binance’s cryptocurrency, BNB coin, has been maintaining its price movements above the $319 support for the past week.
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If the BNB price stays above the mentioned $319 support in the analysis, it may want to realize its upward movement up to the $340 levels.
If the BNB price makes daily candlestick closures below the $319 level mentioned in the analysis, it will want to realize the downward movement up to the $300 levels indicated on the chart.
If the BNB price makes daily candlestick closures below the $300 support, it can realize the downward movement up to the daily support area of $278.
Where are the Important Fibonacci Zones?
When the important fibonacci support zones of Binance coin are examined, the range of $297 – $289 – $283 is the OTE range of fibonacci.
If the BNB price makes a reversal from the mentioned range, it can start a new uptrend from this range.
What is OTE?
“Optimal Trade Entry” (OTE) is a term used to determine the most suitable price level when entering an investment position. OTE helps investors to open positions at the right time and at the right price to reduce their risks and increase their potential gains.
OTE helps investors avoid entering positions near the peak or bottom of the price, avoiding overbought or oversold zones. This can enable investors to achieve high returns with low risk.