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Crypto News: BNBUSD set to retest resistance?

Published: 30.05.2022
by Joseph Jeffriess

Today we are looking at BNBUSD as price continues to post a solid rally off the back of a wider risk and crypto rally. Weekend action was choppy, with price setting up a minor range before buyers took control in today’s Asians session. Buyers continued to drive up to the Europeans session breaking above the weekend range.

ST support is seen at 300, and resistance is seen at 328. For the trend to continue, we would like to see buyers push price back up to test and, hopefully, through to continue to the current ST uptrend. If buyers can continue to push higher, we will be looking at the downtrend point as possible higher resistance.

A break back below ST support and through the current ST uptrend would be a worry that the overall downtrend could still be in play.

Recently, BNBUSD has been seeing more demand than other coins in the top 10 so if today’s momentum continues, we would be looking for BNBUSD to continue to run.


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