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Binance stays close to record high
Binance likely remains on track for further gains while trading above its $818.90 to $813.20 support zone.
Binance close to record high
Binance bullish scenario:
Binance's rally off its early August low has so far taken it to a record high at $884 on Thursday, a rise above which may lead to the psychological $1000 mark being reached.
Immediate upside pressure should persist while Binance stays above its 15 and 20 August lows at $818.90 - $813.20 on a daily chart closing basis.
Binance bearish scenario:
Since this week's record high has been accompanied by negative divergence on the daily relative strength index (RSI), it is possible that at least a minor top may be forming.
For this to be the case, a fall through the $818.90 - $813.20 support zone would need to ensue. In this case the 23 July high at $810.20 is likely to get hit 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 $729.70 on the cards.
Binance daily candlestick chart
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