BNB Experiences Contention at the 315.0 Resistance Level

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BNBUSD has reached buy-side liquidity at $315.00. The buyers are currently flexing their muscles after being bullied by the sellers. After a stop-hunt above $333.00, the bears took control of the market at $360.00. The bears drove the market to $220.00 with only a temporary pause at $254.00. The bulls used the demand level of $220.00 to ascend. A rejection candle revealed the rejection at the support level. The buyers are currently facing resistance at the $315.00 supply zone. The daily candles are presently assembling sideways beneath the resistance level. The first strike of the resistance level of $315.00 fostered a retracement. The bulls used the immediate bullish order block to strike a second time. The second strike on January 24 led to a break of structure (BOS).


BNB Key Levels

Demand levels: $254.00, $240.00, $220.00
Supply Levels: $315.00, $333.00, $360.00

BNB Experiences Contention at the 315.0 Resistance Level

What Are the Indicators Saying?

The Average Directional Index reveals the strength of the bullish trend. The bulls are active, as the ADX has risen from below 20 to 40 during the uptrend. The Stochastic indicator is currently moving out of the overbought zone. A retracement to the steep bullish trendline is anticipated to gather bullish momentum to break the $315.00 resistance zone. The liquidity pool resting at $360.00 still appears to be the target of the buyers.

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