BNB Forming Massive Bull Penant Looking For Breakout

April 29th, 2021

BNB Binance Coin

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 have 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

BNB
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 a 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. 

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