Yigit Taha OZTURK 
Since our previous analysis, BNX has managed to close a daily candle above the upper bearish FVG (Fair Value Gap) zone. Following this move, the price made a retest of this region and wicked up to the $2.00 level. After this rise, BNX is now attempting to stabilize at key levels.
Current BNX Price Action
At the moment, the $1.70 level stands out as a significant short-term support zone for BNX. If the price manages to hold daily closes above $1.70, it would be a positive sign for the continuation of the uptrend. In such a scenario, we may see another move towards the $2.00 resistance area.
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However, if BNX closes below the $1.70 level on the daily timeframe, it could indicate a bearish shift in the short term. This might lead to a further retracement towards the $1.60 support zone.
Possible Scenarios
- If BNX holds above $1.70: The uptrend may continue, with the next target being the $2.00 resistance region.
- If BNX closes below $1.70: We might see a pullback towards the $1.60 support level. This area could be monitored for potential buying opportunities.
In the short term, BNX is consolidating between $1.70 and $2.00 levels. A breakout from this range will provide a clearer directional bias. Traders should closely monitor these critical support and resistance zones for potential short-term opportunities.
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