In recent weeks, most of the cryptocurrency market has been doing poorly except for a few select altcoins. One of them is Yearn.finance (YFI), which was discussed in an earlier article. The other large-cap cryptocurrency doing well is Binance Coin (BNB), as the token of the cryptocurrency exchange dropped to $18 and immediately ran to $32 within one week.
This is a rally of 80% in a matter of days and, therefore, ripe for technical analysis to gauge where BNB may be headed next.
Crypto market daily performance. Source: Coin360
Binance Coin faces final resistance before test of all-time highs
BNB/USDT 3-day chart. Source: TradingView
The 3-day chart of Binance Coin is showing a massive surge in the past week and some beautiful technical analysis.
Due to the dropdown of Bitcoin (BTC), the price of Binance Coin dropped severely, as the level at $18 saw a test of this support.
This level at $18 continued to hold