Image Source: Pexels

Elliott Wave Analysis TradingLounge Daily Chart, 15 March 24,

Binance coin/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave (3))

Wave Cancel invalid level: 287.5

Details: Wave 3 is equal to 261.8% of wave 1 at 592.8

Binacecoin/ U.S. dollar(BNBUSD)Trading Strategy:

BNB is still in an uptrend, with an ongoing opportunity for further increase. As Wave 3 progresses, there is a possibility of testing the 717.0 level, as its internal sub-waves are not yet complete, allowing the price to potentially move higher.

Binacecoin/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com

Elliott Wave Analysis TradingLounge 4H Chart, 15 March 24,

Binacecoin/ U.S. dollar(BNBUSD)

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave (3))

Wave Cancel invalid level: 287.5

Details: Wave 3 may be complete and prices are corrected in wave 4.

Binance coin/ U.S. dollar(BNBUSD)Trading Strategy:

BNB is still in an uptrend, with an ongoing opportunity for further increase. As Wave 3 progresses, there is a possibility of testing the 717.0 level, as its internal sub-waves are not yet complete, allowing the price to potentially move higher.

Binacecoin/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.

More By This Author:

SP500 & Nasdaq 100 Insights: Optimize Trades With Elliott Wave Analysis
Elliott Wave Technical Analysis: The Coca-Cola Company - Thursday, March 14
Elliott Wave Technical Analysis: WTI Crude Oil