NewsletterBNB Price Analysis: BNB Forming Massive Bull Penant Looking For Breakout
- BNB has formed a massive bull pennant
- MACD signaling a potential bearish cross
- Major support to watch is $541
BNB has been consolidating within a bull pennant for nearly 3 weeks. This pattern is nearing its end in a mere week. BNB has been catching a lot of hype recently due to BSC (Binance Smart Chain). There has been many new projects launching on this platform and have been producing mind blowing returns. This has been flooding massive interest to BNB.
BNB Price Analysis: BNBUSD 4 Hr Chart
BNB has been holding its $541 minor support for the past two days. This level is also met with the 50MA on the 4 hour chart. If these levels break down expect a retrace to minor support range of $510 which is also met with the bottom trend line of the bull pennant. This is the probable path that BNB will take.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin to Drop to $10K? Bloomberg Analyst Makes Bold Prediction
- U.S. Banks May Soon Issue Stablecoins as FDIC Proposes GENIUS Act Framework
- Breaking: U.S. SEC Ends Four-Year Investigation Into Aave Amid Ongoing DAO Saga
- Breaking: U.S. Jobs Data Comes In Above Expectations, Bitcoin Price Rises
- Bitcoin Risks Deeper Fall on $20 Billion Crypto Hedge Fund Redemptions
- Solana Price Outlook After Charles Schwab Adds SOL Futures — What Next?
- Pi Network Stares at a 20% Crash as Whale Buying Pauses and Demand Dries
- Here’s How Dogecoin Price Could Rise After Crossing $0.20
- Is XRP Price Headed for $1.5 as Whales Dump 1.18B XRP in Just Four Weeks?
- Bitcoin Price Weekly Forecast as Gold’s Surge Revives Inverse Correlation — Is $85K Next?
- Ethereum Price Risks $2,600 Drop Despite JPMorgan’s New Fund on its Network
