BNB Price Analysis: BNB Forming Massive Bull Penant Looking For Breakout

By Sunil Sharma and Domenic
Published April 29, 2021 Updated April 29, 2021
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BNB Price Analysis: BNB Forming Massive Bull Penant Looking For Breakout

By Sunil Sharma and Domenic
Published April 29, 2021 Updated April 29, 2021
  • 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.

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BNB Price Analysis: BNBUSD 4 Hr Chart

Chart By TradingView

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. 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Domenic
134 Articles
Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.

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