Binance and Hedera Elliot Waves Analysis: Prices Gearing Up For Higher Highs

BNB Price Analysis

BNB’s price action suggests a complex Elliott Wave structure potentially concluding a wave (4) correction before launching the next impulsive wave (5). On the 4-hour chart, a descending channel has guided BNB lower from its recent peak near $793, but buyers are now showing signs of renewed interest around key Fibonacci retracement levels.

Specifically, the 0.236 retracement near $700 has served as an immediate ceiling, while deeper pullbacks are finding support at the 0.618 level around $658 and the 0.786 mark at $632.

The ongoing sideways movement hints at a possible triangle pattern, signifying market indecision before the next major directional move. The RSI is oscillating around neutral territory, suggesting momentum has yet to align strongly with either bulls or bears. A break above $728 could confirm the start of wave (5), propelling prices toward $800 or higher, based on extended Fibonacci projections.

However, if BNB fails to hold the lower Fibonacci supports, especially near $632, it could open the door for a more pronounced downside move. In such a scenario, critical support rests around $614, with potential declines toward $544, $511, and $494 if selling pressure persists.

Overall, patience and prudent risk management remain vital. Traders are advised to monitor volume spikes and RSI divergences as confirmation tools. A definitive breakout from the current consolidation zone will likely set the tone for BNB’s mid-term trajectory, offering clear bullish opportunities above key resistance levels or deeper corrections if those areas fail. Watching overall crypto market sentiment can better refine trade decisions.

HBAR Price Analysis

HBAR has shown remarkable volatility, completing what appears to be a wave (4) correction before attempting a wave (5) rally. The 4-hour chart depicts a breakout from previous wedge formations, hinting at building bullish pressure.

Key Fibonacci retracement zones, specifically the 0.5 at $0.26 and the 0.382 near $0.29, helped define the corrective lows, while the 0.236 retracements around $0.328 has been pivotal in capping downward moves.

With the price currently hovering near $0.36, momentum remains constructive as the RSI has rebounded from oversold levels, suggesting a renewed push higher may be on the horizon. A successful break above the last swing high of around $0.389 would confirm wave (v) continuation, potentially targeting the 1.618 Fibonacci extension near $0.43 and beyond. Should HBAR maintain its bullish structure, extended targets at $0.46 or even $0.50 could come into play.

Nonetheless, traders must keep an eye on potential retracements. Failure to hold above $0.34 could see HBAR revisit $0.32 or lower, with $0.30 acting as another significant support region. A decisive break under $0.28 might invalidate the current bullish wave count, signaling the possibility of deeper corrective action.

As HBAR navigates this impulsive phase, monitoring volume and RSI divergences will be crucial for timing entries and exits. The evolving Elliott Wave structure suggests a favorable risk-to-reward setup for bulls, but maintaining awareness of key support levels remains paramount. Aligning these technical insights with broader market sentiment is essential for informed decision-making. Patience, discipline, and agile position sizing can enhance success in this market environment.