BNB cryptocurrency can be expected to rise to the next resistance level 580.00.
- BNB reversed from support area
- Likely to rise to resistance level 580.00
BNB cryptocurrency recently reversed up from the support area located between the powerful long-term support level 520.00 (which has been reversing the price from last September, as can be seen from the daily BNB chart below) and the lower daily Bollinger Band. The upward reversal from this support area stopped the earlier minor impulse wave c, which belongs to the extended downward ABC correction ii from the end of March. The upward reversal from support area formed the daily Japanese candlesticks reversal pattern Hammer.
Given the strength of the support level 520.00 and the moderately bullish sentiment that can be seen across the cryptocurrency markets today, BNB cryptocurrency can be expected to rise to the next resistance level 580.00.
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