BNB Reverses From 807.00 Resistance: Drop to 755.00 Next?…
By Karthik Subramanian
AI summary of the source article
BNB cryptocurrency recently reversed downward from a resistance zone bounded by the 807.00 level and the upper daily Bollinger Band. This downward reversal formed a daily Shooting Star candlestick pattern, which stopped an earlier intermediate correction within a broader impulse wave from late September. With a bearish divergence appearing on the daily Stochastic oscillator and weakening bullish sentiment across cryptocurrency markets, the asset is projected to face further downward pressure. Technical analysis indicates that BNB could potentially drop toward its next key support level at 755.00, which previously halted an earlier impulse wave.
Key facts
- BNB reversed down from a resistance zone between 807.00 and the upper daily Bollinger Band.
- The price movement formed a daily Shooting Star reversal pattern with bearish divergence on the daily Stochastic.
- BNB is projected to potentially fall toward its next support level at 755.00.