Binance Price Prediction, A Rally or Start of Crypto Inferno
- The overnight uptrend successfully surpasses the $300 milestone, reaching a peak at $304. However, it falls short of closing above this mark and is currently trading in the vicinity of $295.
- Fueled by a bullish breakout rally characterized by a rounding bottom pattern, the BNB price is experiencing an upward trajectory.
Yesterday, Binance surpassed $300, marking its first move since June.
According to CoinGabbar Price Analysis, Binance coin breaks free from a week-long sideways trading pattern, displaying a positive trend.
The BNB price is on a bullish wave, challenging the psychological resistance at $300.
Following a rounding bottom reversal and a breakout at $260, BNB successfully surpasses the 61.80% Fibonacci level.
Enthusiastic buyers aim to exceed the $300 mark, contributing to a substantial 12.60% overnight surge.
The overnight uptrend crosses the $300 milestone, touching $304 but failing to close above it, ending the day at $297.
On the 4-hour chart, BNB is on the verge of a breakout from the Bullish Pennant Pattern.
Examining the Daily chart, BNB is in the process of forming a Lower Long Shadow Candle, indicating bullish strength.
KEY LEVELS :
RESISTANCE LEVEL : $303-$310
SUPPORT LEVEL : $292-$285
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. However, it's crucial to do your own research and assess the risks involved before investing in any market.
