BNB cryptocurrency can be expected to rise further toward the next resistance level 750.00 (former support from the start of October).
- BNB reversed from key support level 705.00
- Likely to rise to resistance level 750.00
BNB cryptocurrency recently reversed up from the support zone between the key support level 705.00 (which reversed the price twice in September, as can be seen from the daily BNB chart below), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from the start of July. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing, which stopped the earlier minor ABC correction b – that belongs to the short-term correction B from the start of October.
Given the oversold daily Stochastic, clear daily uptrend and the relative strength of BNB against the cautious crypto sentiment seen today, BNB cryptocurrency can be expected to rise further toward the next resistance level 750.00 (former support from the start of October).