Since February 2024, #Binance Coin ($BNB) has maintained a trading range between $508 and $635 recently.
BNB displayed resilience by bouncing back from the crucial $500 threshold and also recovering from the 61.80 Fibonacci levels, while successfully overcoming selling pressure.
Over the past five days, BNB has recorded five consecutive bullish candlesticks, signaling a 14% surge.
An upward trendline influenced by a rounding bottom pattern is evident in BNB's price trajectory.
There are indications of a potential double-bottom reversal on the daily chart, suggesting a recovery.
$BNB is currently consolidating within a symmetrical triangle formation on the weekly chart.
A successful breach of the $635 resistance level and the symmetrical triangle pattern could propel BNB towards the $700 mark.
As per CoinGabbar Prediction, Conversely, failure to surpass $635 may result in a decline towards $575 and potentially $500.
KEY LEVELS :
RESISTANCE LEVEL : $620-$640
SUPPORT LEVEL : $580-$560
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