Binance Coin Looks Attractive Again

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Today we will talk about Binance Coin – BNBUSD, which we see it approaching a strong and important support zone, from where we can expect a new bull run soon.

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Well, what we see on BNBUSD is a big A-B-C corrective decline from all-time highs, which is already trading in the final stages of wave (5) of C. We can actually see that BNB has already reached the projected support zone, but wave (5) needs to be completed by a five-wave cycle of the lower degree which is not the case yet. So, there's still a chance for a retest of the lows and a strong psychological 200 support level for the final wave 5 of (5) of C before real bulls show up. However, in case if BNB is alternatively already bottomed, then we need to see a bigger recovery and rally up to 400 area to confirm bulls are back in play.