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

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Published 29 Apr, 2021 | 06:32:12 AM UTC

BNB 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

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.

Domenic

Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship.

Published by

Domenic

Published 29 Apr, 2021 | 06:32:12 AM

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