Will BNX Bounce Back or Break Down? Key Levels to Watch Now

24 ต.ค.

Yello, Paradisers! Is #BNX about to stage a powerful bullish reversal, or could we see another leg down? Let's dive into the current setup of #BinaryX:

💎#BNXUSDT is flashing some promising signs of a potential reversal following a crucial retest of a major support zone. The recent price action saw #BNXUSDT lose steam after encountering a strong rejection at the key resistance of $1.71, where a double-top pattern emerged. Now, the focus shifts to a pivotal support zone between $0.596 and $0.691.

💎If the price holds above $0.596 - $0.691 and rebounds, it could gather the necessary momentum to retest the minor resistance at $0.855. A break above this level would signal a return to a bullish structure, opening the door for higher targets and a potential trend shift.

💎However, if #BNX fails to rebound within this zone, a breakdown could trigger a continuation of the downtrend, with the next stop potentially being the demand area at $0.435.

💎Historically, the $0.435 level has provided solid support, making it a key area to watch for a potential rebound opportunity. But for BNX to regain its upward momentum, reclaiming the $0.855 resistance is essential. If the price fails to do so—or, even worse, breaks down below the $0.435 demand zone—it would confirm a bearish trend, indicating further downside risks.

Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.

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