|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Binance Coin (BNB) Price Analysis: Triangle Breakout Rally Incoming?
Jan 22, 2025 at 05:57 pm
With the broader market holding steady at key levels, Binance Coin (BNB) has reclaimed the $700 mark. Could this recovery signal the beginning of a triangle breakout rally?
BNB Price Analysis: Key Takeaways
Binance Coin (BNB) price has shown resilience, reclaiming the $700 mark after a brief downturn.
As Bitcoin recovers swiftly from key levels, altcoins like BNB are experiencing a recovery rally.
Technical indicators, including the morning star pattern and Fibonacci levels, suggest potential for a breakout rally.
BNB Price Chart Depicts a Triangle Pattern
BNB's price on the daily chart is trending within a triangle pattern, denoting a period of consolidation. The recent recovery marks a positive phase as BNB bounces off the support trendline, indicating growing confidence among traders.
Moreover, it completes a morning star pattern near the 61.80% Fibonacci level at $674. As the recovery rally gains momentum, BNB swiftly surpassed the 50- and 20-day EMA lines.
BNB Price set to Break out from Key Moving Averages
The breach of these moving averages highlights a robust bullish trend, which could propel BNB further up the price ladder.
The daily RSI line has crossed about halfway, reflecting a surge in bullish sentiments. Hence, the technical indicators are aligning to present a favorable scenario for BNB holders. This alignment suggests more upside potential in the coming days.
BNB Price Targets: Will it Surpass $800?
BNB has reclaimed the $700 psychological mark with two consecutive positive candles, highlighting its strength in the current market dynamics.
Considering that the broader market continues to improve, BNB will likely continue its uptrend.
The immediate price resistance for BNB stands at 78.60% Fibonacci level at $708. However, the altcoin must surpass the local resistance trendline for an extended bullish rally. Breaking this resistance could set the stage for explosive growth.
In this scenario, potential price targets for BNB include $750 and $804. On the downside, crucial support is at $674.95, and a drop below this level could dampen the bullish outlook.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Will Uniswap v4 Deployment This Week Affect UNI Price?
- Jan 23, 2025 at 02:55 am
- Uniswap is set to roll out its highly anticipated v4 upgrade this week, marking a pivotal moment for the decentralized exchange. The Uniswap Foundation confirmed the update on January 21, 2025, highlighting significant improvements aimed at enhancing capital efficiency, reducing gas fees, and offering greater flexibility for developers.
-
- Stomach-churning X-ray pictures show man left bursting with tapeworm eggs after he made a grave kitchen mistake
- Jan 23, 2025 at 02:55 am
- Sam Ghali, an Assistant Professor in Emergency Medicine at the University of Florida, revealed shocking snaps showing a patient's experience with a tapeworm infection
-
- Plug Power Inc. (NASDAQ: PLUG) Stock Surges 7.49% Amid Optimistic Update on $1.66 Billion Loan Guarantee Deal with the U.S. Department of Energy (DOE)
- Jan 23, 2025 at 02:45 am
- The catalyst for Plug Power's recent gain was an optimistic update from CEO Andy Marsh about the company's loan guarantee deal with the U.S
-
- JioCoin: A New Player in the Crypto Market Backed by Reliance
- Jan 23, 2025 at 02:45 am
- JioCoin is making waves in the crypto world with a valuation hitting $10 million. It's kind of a big deal, especially with Reliance backing it. Everyone's talking about how this might shake things up in the crypto market. But what's really going on here? Let's break it down and see why JioCoin's getting all this attention.
-
- Investor Shifts 110M $PENGU Tokens Across Two Wallets
- Jan 23, 2025 at 02:45 am
- This whale pulled out 581.96 million $PENGU coins from Binance, and at that time, they were worth $15.87 million. Following the sale, the whale exchanged 71.96 million $PENGU tokens for $1.93 million. The whale kept trading and moving the $PENGU coin through these big transactions.