BNB be expected to test the resistance level 688.00 – the breakout of which can lead to further gains toward the next resistance level 720.00
- BNB approaching key resistance level 688.00
- Likely to rise to resistance level 720.00
Binancecoin cryptocurrency recently broke the resistance trendline of the daily Triangle from March, as can be seen from the dilly BNB chart below. The breakout of this Triangle accelerated the active short-term impulse wave c which started earlier from the round support level 600.00 – which belongs to the intermediate ABC correction ii from the start of April – which is itself a part of the intermediate impulse wave (3) from the start of this year. The price is currently approaching the key resistance level 688.00, which is the upper border of the sideways price range inside which the price has been trading from February.
Given the bullish sentiment can be seen across the crypto markets today, BNB be expected to test the resistance level 688.00 – the breakout of which can lead to further gains toward the next resistance level 720.00 – target for the completion of the active ABC correction ii.
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