📈$BNB Daily Chart Analysis 📉
Pattern: Ascending Triangle (Bullish Continuation)
$BNB is forming an ascending triangle, typically a bullish continuation pattern. Key Resistance: $640. Price has been testing this level, with higher lows, indicating buying pressure.
💡 Bearish MACD Divergence
Warning Signal: Despite the bullish price action, the MACD is showing a bearish divergence—the MACD is making lower highs, while the price made higher highs, suggesting weakening momentum.
📊$BNB Volume Analysis
Volume is decreasing as the pattern forms. For a confirmed breakout, we need to see increased volume above $640.
🚨 Breakout Confirmation
If BNB breaks above $640 with high volume, expect a potential continuation of the bullish trend, with a price target around $850 based on the triangle's height. Caution: A failure to break out could signal a pullback, especially with MACD bearish divergence.
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