BNB ended a protracted falling-channel decline by igniting from a tight consolidation rectangle around 600 USDT. The ensuing surge stalled near 670 and is now rechecking the breakout zone at 640, which also aligns with the underside of a freshly drawn rising wedge. A successful hold here could catapult price toward the 700-720 resistance corridor, the depth equivalent of the prior consolidation range. Slip back under 620 would risk sliding into the old channel.Trade active
BNB shattered a year-long descending wedge, spiking to 670 USDT before consolidating just above the breakout neckline at 620. This zone aligns with an internal rising trend from March’s capitulation low, making it pivotal. Hold 620 and the 700-730 target (equal to the prior range depth) stays in focus; fall back under 600 and sellers regain short-term sway. 🚀
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.