BNB has shown a significant response to the 0.618 Fibonacci retracement level, suggesting a possible relief bounce in the near future. This movement comes after a liquidity sweep that has positively influenced the price action of the cryptocurrency, and the publication demonstrates positive momentum in the developments.
BNB Forms Bullish Engulfing Candle
Following the liquidity sweep, BNB formed a bullish engulfing candle at the critical 0.618 Fibonacci retracement level, indicating strong buying interest.
Potential Rally Towards Resistance Level
If the price manages to maintain its position above this Fibonacci support, analysts predict a potential rally towards the 950 resistance level.
Market Sentiment Monitoring
Traders are closely monitoring these levels as they could signal a shift in market sentiment for BNB.
Recently, Quant (QNT) experienced a significant price rally, increasing by 12% in just 36 hours, showcasing renewed investor interest. This surge contrasts with BNB's recent movements, highlighting the dynamic nature of the crypto market. For more details, see read more.
