BNB Price Sees 8% Jump this Week, But There’s a Catch

Coinpedia
Coinpedia

21 Nov 2023 8:17 AM

The crypto market is currently wavering in uncertainty as the US SEC delays the approval of some Bitcoin spot ETFs. However, defying this indecisive...

  • The Binance Coin (BNB) price has experienced significant growth in the last six months, reaching a high of $268.
  • The price broke through a multi-month resistance level of $257, indicating potential for further recovery.
  • A symmetrical triangle pattern has influenced the current sideways trend in BNB.
  • A bullish breakout from the triangle pattern could indicate a trend reversal and lead to a potential target of $350, $400, and $460.

The article has a generally positive sentiment, highlighting the recent upswing in the BNB price and the potential for further recovery. However, it also mentions the possibility of a correction phase and the need for higher volume and a daily candle closing above a resistance level for a genuine breakout.

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You May Ask

What has been the growth of the Binance Coin price in the last six months?What resistance level did the BNB price break through recently?What pattern has influenced the current sideways trend in BNB?What could indicate a trend reversal and potential targets for the BNB price?

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