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ST Support
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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

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.

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Joseph Jeffriess, Market Analyst in Eightcap
Eightcap is one of the leading CFD brokers in the market, providing online trading services to a wide range of clients from around the world. They offer 1,000+ CFDs based on Forex, commodities, indices, shares, and cryptocurrencies. The well-established trading company was founded in Melbourne, Australia, in 2009, and is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).