Binance Coin Retraces to $21 Support, Attempts Massive Move Soon

[MRM]

Binance Coin is currently trading at $21 at the time of writing. Buyers have been attempting to break the resistance at $24.

On August 5, the attempt at the resistance resulted in a further downward move. The coin fell to $21 low and resumed upward move. On August 18, BNB retested the resistance, thereby forming a bearish double top. This bearish double pattern is a bearish signal that is responsible for the downward movement of Binance Coin. Meanwhile, the coin has fallen above the $21 support. The upward move will resume if the current support holds.
Source: https://coinidol.com/binance-coin-retraces-support/

[highnayem34]

The Fibonacci tool has indicated a further upward movement of the coin. On August 11, a retraced candle body tested the 0.618 Fibonacci retracement level. It indicates that the market will rise to 1.618 Fibonacci extension level or the high of $29.