BNB Price Shows Signs of Recovery at Fibonacci Support

BNB Price Shows Signs of Recovery at Fibonacci Support

user avatar

by Jesper Sørensen

9 months ago

Made with AI

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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.