- Binance Coin (BNB) completes the double bottom pattern.
- It just broke out of a descending resistance line.
- The price of BNB is currently moving upwards.
Binance Coin (BNB) has finished a double bottom pattern. Following this, it broke out from a descending resistance line. At the moment, the crypto is on the path of a short-term ascending support line. Remarkably, BNB is currently trading above the $315 area of horizontal support.
In detail, on both May 23 and June 22, BNB finished a double bottom pattern within the area of $240 horizontal support. The pattern occurred along with bullish divergences in the RSI, MACD, and Stochastic oscillator.
Finally, on July 3, the crypto broke out from its descending resistance line. As of now, the crypto set a local record high of $340 on July 7, 2021. The next closest resistance levels are most likely $395 and $452. Respectively, these target the 0.382 and 0.5 Fib retracement resistance levels.
Analysts are sure that the upcoming upward movement will take the crypto to $380 at least. Still, others b...