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Binance coin/ U.S. dollar (BNBUSD) Elliott Wave Technical Analysis 14 March 24


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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. and there is still an opportunity to continually increase In the increase of Wave 3, there is a chance to test the 717.0 level because the internal sub-waves of Wave 3 are not complete yet, causing the price to still have a chance to 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

 

 

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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. and there is still an opportunity to continually increase In the increase of Wave 3, there is a chance to test the 717.0 level because the internal sub-waves of Wave 3 are not complete yet, causing the price to still have a chance to move higher.

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

 

cf29072fe8bcd9f54e9c5d9b208076ef

 

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    • This content is based on my personal opinion and not a financial advise for readers hence ensure you DYOR before investing. Resources: https://www.odaily.news/en/newsflash/380143 No doubt memecoin has seen tremendous adoption over the last 6 with more capital inflowing into the memecoin sector. The artificial intelligence sector and RWA sector is another sector that looks promising but the crazy gains recorded from memecoin in the first quarter of the year might have been the reason for investors to shift their focus to memecoin.  With BTC only managing 48% gain since the beginning of 2024, tokens like WIF, PEPE and floki surged by 1300%, 815% and 392% respectively. Among the top 10 tokens, BGB the native token of Bitget was the only exchange token to find it's way up returning 100% to investors in 6 months. While the second half of the year hold a lot of promise due to anticipation of BTC post halving bullrun, a lot of investors are looking to invest in a tokens with decent ROI potential and memecoin looks the best option to many. Not disputing the crazy gains that might comes with investing in memecoin, the risk of losing it all is also higher especially investing in new memecoins. Considering the continuous growth, expansion and ecosystem development of Bitget, BGB holds a great potential with minimal risk compared to memecoin. Additionally, the entry point is still very great for both new and old investors. What sectors do you think will lead in the bullrun proper? Will memecoin still lead the year or will AI, Gaming, RWA pull a surprise. Share your thoughts.
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