BNB Technical Analysis | Next Resistance level at $513

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We are here to yet again enlighten you about news and predictions from the Crypto community!! 

 

And today we present to you a technical analysis video on BNB Token!

Binance has increased its network by including Binance Chain, Binance Academy, Trusted Wallet, and Research Reports of their tokens.

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BNB is trading at $429.83. The price has shown some bearish signs as it has slightly decreased from the opening price.

Thus, indicating a high selling pressure in the market.

The MACD lines are in the positive zone. However, the price has broken a lot of resistance levels. 

 

The RSI indicator is at 47.78%. It has risen after taking support from the 38% mark, which is a strong resistance zone for the RSI. A break up from this level will eventually be a trend reversal. 

As the indicators are predicting bearish signals, the price can fall and test the first Fibonacci pivot support level of $396.36. Once the price breaks the support zone, traders can go with a target of $369.25.

 

However, if the price starts a pump, it can break the immediate resistance level at $463. A breakout from this level can highlight the next resistance level at $513.

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