Lorenzo Stroe
Independent Analyst
- Binance Coin price has formed a massive bull flag on the daily chart.
- The digital asset faces just one critical resistance level before a huge 65% breakout to new all-time highs.
- BNB could see a bearish breakdown in the short term.
Binance Coin price has seen a significant recovery in the last 48 hours as the entire market gained more than $100 billion in market capitalization back.
Binance Coin price on the verge of a colossal breakout
On the daily chart, BNB has formed a bull flag and could be close to a massive breakout. The most significant resistance level is formed at the psychological point of $600.
BNB/USD daily chart
A breakout above this key level has a 65% price target at $930. This target is calculated by using the height of the pole as a reference point.
However, Binance Coin price is also trading inside an ascending triangle pattern formed on the 6-hour chart. The TD Sequential indicator has presented a sell signal here in the form of a green ‘9’ candlestick.
BNB/USD 6-hour chart
The most significant trend line support is formed at $514. A breakdown below this point, impulsed by the sell signal, would drive Binance Coin price down to $340 in the longer term.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto Today: Traders discuss Solana futures and Ethereum Hoodi update as Bitcoin price stalls at $83,000
Amid a 2% decrease in market capitalization, crypto trading volume surges 42% to $87.2 billion in the last 24 hours, signalling active capital rotation. Bitcoin price stagnates below $85,000 as Gold enters a record rally to $3,000 ahead of the US Fed rate decision.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH, XRP gain as MicroStrategy buys $10.7 million BTC
Bitcoin (BTC) daily price chart shows signs of recovery in the largest cryptocurrency. Strategy, one of the largest corporate holders of Bitcoin, acquired another 130 BTC last week, according to an announcement on Monday.
Top Formula 1 crypto sponsors rally, racing fans gain from Binance Coin, OKB, ApeCoin and Crypto.com
The 2025 Formula 1 season kicked off in Australia last week with a lineup of crypto sponsors for half of the teams. Racing giants are powered by sponsors like crypto exchanges Binance, OKX, ApeCoin, and Crypto.com, among other NFT and trading platforms.
SEC pumps brakes on altcoin ETFs, institutional interest remains
The US SEC postponed its decisions on several spot altcoin ETF applications this week, including those for Litecoin, XRP and Solana. A K33 Research report shows there is consensus but the agency is waiting the confirmation of Trump’s nominee for SEC Chair.
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.