The bigger picture of this technical chart shows the BNB coin is forming a cup and handle pattern, holding an excellent opportunity for crypto traders. Later, the coin faced strong rejection from this level which plunged the price back to the $517 mark. The BNB coin initiated a significant rally in October which made a high of $675 resistance. Moreover, these traders can also wait for the price to breach the nearest resistance of the $38 mark for more confirmation.īNB/USD Chart shows a Cup and handle pattern These support levels have enough potential to halt the ongoing fall however, the crypto should wait for a proper price action signal before entering a new long position. The coin is currently hovering above crucial support of $33.5, which is in confluence with other major technical levels such as 0.5 Fibonacci retracement level and 200 EMA. However, the coin price has significantly dropped for such a pullback, displaying a V-top bearish reversal in its chart. On November 4th, this coin made a New All-Time High of the $55.2 mark, after which the price began this correction phase. Initiated late in July, the DOT coin price provided an incredible rally for its investors. The Relative Strength Index(38) has shown a significant drop in its value for a minor pullback, providing even enough room for the BTC rally to grow. However, the price action has not yet signaled sufficient demand pressure from this level, and therefore, the safe traders can wait till the price breaches the 60K resistance level for better confirmation. The coin price is plunged to a crucial support zone of $53650-$53000, which is also the same level as the previous swing high level and the 0.382 FIB level. This Level Remains Critical For Ethereum Price Next Round Of Action Here's Why Price Analysis
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