​​Binance Stays Sidelined

(MENAFN- DailyFX (IG)) Binance sidelined below record high Binance bullish scenario:

Binance's rally off its early August low has so far taken it to a record high at $900.80 on 22 August, a rise above which may lead to the psychological $1,000 mark being eyed next.

First, though, the 28 August high at $881.20 would need to be overcome.

Further range trading will remain in play while the 28 August high at $881.20 caps and the 15 August low at $813.20 underpins.

Binance bearish scenario:

A fall through the early September low at $839.50 may engage the 26 August low at $831.10 and perhaps also the 15-to-20 August lows at $818.90-to-$813.20.

In case of the $818.90-to-$813.20 support zone being fallen through, the 23 July high at $810.20 may be reached and perhaps also the 11 August low at $792.70. Failure there on a daily chart closing basis may put the early August low at $729.7 on the cards.

Binance daily candlestick chart Source: TradingView Important to know

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