Kiana Danial’s Binance Coin (BNB) Price Analysis
Trading versus the US dollar, Binance coin (BNB) has recently broken below the daily Ichimoku cloud. While this can be considered a bearish indication, we also have a bullish indication in the process. The BNB/USD has been struggling to break below the 14.80 support level.
Not only that, the pair may even be in the process of forming a Double Bottom bullish reversal chart pattern.
The future Ichimoku cloud remains bearish. With that, at this point, we are in a wait-and-see mode. If the $14 support level doesn’t hold, the pair may continue on its longer-term downtrend. Otherwise, if the Double Bottom pattern confirms on top of a bullish Ichimoku signal, the pair could start a brand new uptrend.
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