BNBUSD Elliott Wave Analysis TradingLounge Day Chart

Binance/ U.S. Dollar (BNBUSD) Daily Chart Analysis

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (3)

Direction (Next Higher Degrees): Wave ((3)) of Impulse

Wave Cancel Invalid Level: [To be determined based on chart]

Details: Wave 3 is projected to reach approximately 161.8% of Wave 1.

Binance/ U.S. Dollar (BNBUSD) Trading Strategy

• The corrective Wave 2 appears to have concluded.
• Focus is now on the five-wave rally developing in Wave 3.
• The overall price action continues to support an uptrend.
• A re-entry point into the ongoing bullish trend should be considered.

Binance/ U.S. Dollar (BNBUSD) Technical Indicators

• The price is trading above the MA200, signaling a sustained uptrend.

• The Wave Oscillator shows strong bullish momentum, supporting the continuation of the rally.

Binance/ U.S. Dollar (BNBUSD) 4-Hour Chart

BNBUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (3)

Direction (Next Higher Degrees): Wave ((3)) of Impulse

Wave Cancel Invalid Level: [To be determined based on chart]

Details: Wave 3 is expected to extend to approximately 161.8% of Wave 1.

Binance/ U.S. Dollar (BNBUSD) Trading Strategy

• The corrective phase in Wave 2 seems completed.

• Attention remains on the development of a five-wave rally characteristic of Wave 3.

• Price action remains bullish, with opportunities for re-entry into the trend as it progresses.

Binance/ U.S. Dollar (BNBUSD) Technical Indicators

• The price continues to trade above the MA200, reflecting a robust upward trajectory.

• The Wave Oscillator indicates a strong bullish momentum, aligning with the Elliott Wave forecast.

Technical Analyst:  Kittiampon Somboonsod

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