TONCOIN (TON) and Binance Coin (BNB) Price Analysis: TON and BNB Show Bullish Signals – Key Levels to Watch

The crypto market continues to present diverse opportunities for traders and investors. An analysis by altFINs highlights the trade setups for TONCOIN (TON) and Binance Coin (BNB).

The crypto market presents varying opportunities for traders and investors. An analysis by altFINS highlights the trade setups for TONCOIN (TON) and Binance Coin (BNB). Both crypto assets show distinct patterns and trends that could be beneficial for strategic trading. Here’s a detailed look at their analysis and recommendations.

TONCOIN (TON) Trade Setup

TONCOIN (TON) is still in an uptrend despite recent fluctuations. The price experienced a bearish breakout from a rising wedge pattern after facing rejection twice around the $8.30 mark. This pullback positions the $6.75 support level as a potential entry point for swing traders, offering a 20% upside back to $8.30. The stop-loss recommendation is set at $6.46.

The pullback in TONCOIN’s uptrend presents a ‘buying dip’ opportunity. The nearest support level, $6.75, where the price previously bounced off, serves as a critical point for stabilization and potential upward movement.

Short-term trends show a downward movement, with medium-term trends remaining neutral, while long-term trends are strongly upward. The momentum is bearish, indicated by the MACD line crossing below the MACD signal line. However, the RSI-14 levels suggest the price is neither overbought nor oversold, maintaining a balanced stance.

The nearest support zone for TONCOIN is at $6.75, followed by $6.00. Conversely, resistance levels are marked at $8.30 and $10.00. These levels provide crucial points for traders to watch for potential reversals or continuations.

Binance Coin (BNB) Trade Setup

BNB exhibits a uptrend, consistently trading above the 200-day moving average even during market downturns. The price recently broke above the $550 resistance, signaling a continuation of the uptrend with a 15% upside potential towards the $637 target.

The resistance breakout in Binance Coin indicates that buyers have absorbed the supply from sellers at the $550 level, paving the way for further price advancement. Learning to trade key level breakouts, as discussed in altFINS’ Lesson 7, can be highly beneficial.

BNB’s trend is strongly upward, with medium term trends neutral, and long-term trends upward. The bullish momentum is supported by the MACD line crossing above the MACD signal line. Similar to TONCOIN, the RSI-14 levels show that BNB is neither overbought nor oversold, maintaining a equilibrium.

For Binance Coin, the nearest support zone is $500, followed by $450. The next resistance zone is at $637, with further potential resistance at $720. Monitoring these levels can help traders identify optimal entry and exit points.

Conclusion

Both Toncoin and Binance Coin demonstrate promising market dynamics. While TON offers an attractive entry point following a pullback, BNB shows strength with its recent resistance breakout.

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