CandleFocus BNB Price Prediction: 15% Surge Likely as Smart Money Bets on Breakout
2024-09-16
Author: Content Editor
The Binance Coin (BNB) market has been experiencing indecision, with its price remaining stagnant and no clear direction from buyers or sellers. However, a key technical indicator, the Chaikin Money Flow (CMF), has shown a bullish divergence. This suggests that despite the lack of price movement, there is increasing buying pressure for BNB. The positive Long/Short ratio also supports a bullish sentiment towards BNB, with more traders taking long positions in anticipation of a price rise. If BNB breaks out of its sideways pattern and moves into an uptrend, it could surpass key resistance levels and potentially reach a three-month high. However, if BNB breaks out in a downtrend, its price could plummet towards a support level, invalidating the bullish projection.
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