Binance BNB (BNB-USD) Price Chart Analysis

BNBUSD Elliott Wave Technical Analysis May 27 2023

4Hour

Binance Coin/U.S.dollar(BNBUSD)
BNBUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: wave (C) of Motive
Details: Wave 5 is equal to Wave 1 at 296.5
Wave Cancel invalid level: 220

Binance Coin/U.S.dollar(BNBUSD) Trading Strategy:  There is still a risk that the price will fall further due to the The back wave within the wave (C) is incomplete. This corresponds to the price being below the MA200 line, so wait for the wave. (C) Done to join the trend again.

Binance Coin/U.S.dollar(BNBUSD) Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  Bearish momentum

Daily

Binance Coin/U.S.dollar(BNBUSD)
BNBUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Details:  Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Wave Cancel invalid level: 220

Binance Coin/U.S.dollar(BNBUSD)Trading Strategy: There is still a risk that the price will fall further due to the The back wave within the wave (C) is incomplete. This corresponds to the price being below the MA200 line, so wait for the wave. (C) Done to join the trend again.

Binance Coin/U.S.dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  Bearish momentum