Cardano

altFINS

Strong

Coin

<p>Binance Coin (BNB) remains one of the top-performing major cryptocurrencies midway through the current market cycle. After gaining over 500% from its 2022 lows and recently hitting a new all-time high around $350, BNB has seen a healthy pullback and consolidation phase over the past couple weeks back down toward the $300 level.</p>
<p>However, according to crypto trader World of Charts, this price action represents a bullish continuation pattern ready to give way to the next major leg higher for BNB.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="580" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-1024x580.png" alt="" class="wp-image-421269" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-1024x580.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-767x434.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-1536x870.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-2048x1160.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-265x150.png 265w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-618x350.png 618w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434-788x446.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-434.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="strong-bull-pennant-breakout-strong"><strong>Bull Pennant Breakout</strong></h2>
<p>Specifically, World of Charts <a href="https://twitter.com/WorldOfCharts1/status/1746802287451017588" target="_blank" rel="noopener noreferrer nofollow">cites</a> the formation of a bull pennant, often a bullish continuation pattern signaling the final wave of consolidation before resuming the prior uptrend. With BNB’s pennant breakout confirmed by strong volume already, he anticipates smooth sailing to $400 ahead.</p>
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<p>Crypto analysis platform AltFINS echoed this perspective in their latest technical analysis:</p>
<ul>
 <li>BNB existing firmly in an uptrend across timeframes</li>
 <li>$300 support holding from breakout retest</li>
 <li>Oversold conditions suggest bottom is in place</li>
 <li>Next target at $350 with eyes on $400</li>
</ul>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-1024x573.png" alt="" class="wp-image-421277" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-435.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<h2 class="wp-block-heading" id="strong-favorable-risk-reward-strong"><strong>Favorable Risk-Reward</strong></h2>
<p>With the buy zone between $300 and $285 presenting over 20% upside potential compared to around 10% downside risk, traders may be inclined to scale back into BNB at this level.</p>
<p>As altcoins tend to massively outperform Bitcoin later in bull market cycles, BNB’s market leader status renders it a prime candidate to capture excess speculative inflows as overall momentum builds across the crypto sector in 2023 and 2024.</p>
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<p>The post <a href="https://captainaltcoin.com/binance-coin-looks-ready-for-another-leg-higher-analyst-says-bnb-shows-strong-breakout-to-this-level/" rel="noopener noreferrer nofollow">Binance Coin Looks Ready For Another Leg Higher, Analyst Says BNB Shows Strong Breakout To This Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Binance Coin Looks Ready For Another Leg Higher, Analyst Says BNB Shows Strong Breakout To This Level

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