Binance Coin cryptocurrency can be expected to fall further to the next support level 560.00 (which has been reversing the price from the start of July – stopping earlier waves a, b and ii).
- Binance Coin recently reversed from resistance zone
- Likely to fall to support level 560.00
Binance Coin cryptocurrency recently reversed down from the resistance zone between the key resistance level 590.00 (which has been reversing the price from the middle of June, as can be seen from the daily Binance Coin chart below), upper daily Bollinger Band and the 61.85 Fibonacci correction of the downward impulse from June. The downward reversal from this resistance zone stopped the previous minor impulse wave iii.
Given the strength of the resistance level 590.00 and the widely spread bearish sentiment seen across the crypto markets today, Binance Coin cryptocurrency can be expected to fall further to the next support level 560.00 (which has been reversing the price from the start of July – stopping earlier waves a, b and ii).