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Binance Coin Price Analysis: Amid the last two weeks of market consolidation, the BNB price showed notable resilience above the $586 support. With the <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">Bitcoin price</a> teasing a breakout from the $70000 level today, the altcoin market witnessed a bullish uptick. Thus, Binance coin price jumped over 5% hinting at a potential breakout from 11 weeks of consolidation. Should you enter this breakout? 
Also Read: <a href="https://coingape.com/binance-delisting-ceasing-support-crypto-prices-tank-25/">Here’s Why Binance, OKX Withdew Licensing Applications In Hong Kong</a> 
<h2 id="b-triangle-breakout-sets-bnb-price-to-test-new-high-b">Triangle Breakout Sets BNB Price to Test New High</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/q/QUY9xIuu.png" alt="BINANCE:BNBUSDT Chart " width="1946" height="893">
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 Binance Coin Price Analysis| Tradingview
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</figure> 
Since mid-March, the <a href="https://coingape.com/binance-user-loses-1-million-worth-crypto-holdings-through-counter-trading-plugin/">Binance coin</a> price has traded sideways resonating within the two converging trendlines of a symmetrical triangle pattern. The coin price rebounded at least twice from both ends indicating the buyers or sellers showed no initiation towards this asset. 
<blockquote>
 However, in theory, this consolidation indicates the buyers managed to replenish the exhausted bullish momentum. A potential breakout from the pattern’s resistance trendline will release the build-up momentum and hint at the resumption of the prevailing rally.
</blockquote> 
Amid the recent market jump, the <a href="https://coingape.com/binance-delisting-ceasing-support-crypto-prices-tank-25/">BNB price</a> gave a decisive breakout from the pattern’s upper resistance. Currently, the Binance coin trades at $624, while the market cap boasts to $92.1 Billion. 
However, the price sustainability above the breached trendline in the coming days is crucial for BNB coins. If the pattern holds true, the buyers could drive a rally to a new high of $691, followed by $766. 
On a contrary note, if the supply pressure at the overhead trendline reverts the price back to a triangle, the bullish thesis will be invalidated. If this happens, the BNB price could prolong its consolidation for more weeks to months.&nbsp; 
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical Indicator:&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Bollinger Band: The coin price challenging the upper <a href="https://coingape.com/education/bollinger-band/">Bollinger Band</a> indicates the aggressive accumulation from buyers.</li> 
 <li style="font-weight: 400;" aria-level="1">Directional Movement Index: A bullish crossover, where the DI+ (blue) surpasses the DI- (orange), indicates a resurgence of positive sentiment towards this asset.</li> 
</ul> 
The post <a href="https://coingape.com/markets/binance-coin-price-analysis-hints-rally-to-760-as-buyers-11-week/">Binance Coin Price Analysis Hints Rally to $760 As Buyers Escape 11-Week Consolidation&nbsp;</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Binance Coin Price Analysis Hints Rally to $760 As Buyers Escape 11-Week Consolidation

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