CandleFocus Binance (BNB) Coin Price Triangle Breakout Targets $850
2024-12-16
Author: Content Editor
The crypto market, including Binance (BNB), is experiencing a surge in buying pressure as the bull market regains momentum. BNB is preparing for a potential breakout rally that could result in a new all-time high above $800. The price action of BNB currently shows a symmetrical triangle pattern, indicating market indecision but also the possibility of an upcoming breakout. The BNB price is struggling to overcome overhead supply and is currently trading at $712. If a bullish breakout occurs, BNB could reach the resistance level at $850, representing a potential upside of nearly 20%. However, if the breakout fails, there is a risk of retesting key support levels, with a downside risk of 5.7%.
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