bullish

2024

Swing

The post <a href="https://coinpedia.org/price-analysis/will-binance-bnb-witness-60-price-surge-to-900-amid-market-pullback/" rel="noopener noreferrer nofollow">Will Binance (BNB) Witness 60% Price Surge To $900 Amid Market Pullback?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Bitcoin’s bearish turn of events puts the altcoin segment on the back foot with a bloodbath in many top coins. Amidst such situations, the BNB price trend glimmers with a shining hope of revival.&nbsp;
With an overnight jump setting the stage for the the $600 level breakout, the price action reveals multiple bullish patterns. So, will the changing dynamic in the underlying sentiments of Binance lead to a new all-time high above $716? Will the <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" rel="noopener noreferrer nofollow">Binance price prediction </a>of $1,000 in 2024 stand true?
<h2 class="wp-block-heading" id="h-bulls-within-triangle-eyes-an-upside-swing-for-binance">Bulls Within Triangle Eyes An Upside Swing For Binance</h2>
Constricting the current flow of recovery, a short-term resistance trendline restricts BNB price under $600. Currently, the Binance token trades at $586 with an intraday drop of 0.30% following the overnight jump of 2.42% to form a bullish engulfing candle.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXctTTF6MhPJH59mZWj1TArOtA79wednwVcfevOAHXz7KJZXwlqlHk99PX9YYPUyOc7snYg7Ez6UgdPz-Oxvuh7i0fjjEjppekVpFl7m1m-S_UghY9CdHKvlspBJUyDI9WCQA0lR0MNQ7WKelCshNVuBHR2r?key=4YHgvILVp-Ie90AFxO0crQ" alt="">
</figure>
<a href="https://www.tradingview.com/x/34gK7vvM/" rel="noopener noreferrer nofollow">Tradingview</a>
With two converging trendlines in the daily chart, the BNB price action forms a triangle pattern. Further, with a neckline at $600, the altcoin teases an inverted head and shoulder pattern for a massive upside move.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeILudwG4JqbdZQQMBdnzW_KfxSD7ldutv4C4c3uVI2ZUHaB2WedI7dKTsUtREhZ3OnT96Qg608Iol-6hM9ZsbItsSwD1DwXFzfbfBhXHt1SSePVojcIQVHXjU2-LuoKjouVEAwhUDid8-3WKUeUZQxLiIv?key=4YHgvILVp-Ie90AFxO0crQ" alt="">
</figure>
<a href="https://www.tradingview.com/x/E3yZGLmo/" rel="noopener noreferrer nofollow">Tradingview</a>
Even in the weekly timeframe, a massive inverted head and shoulder can be traced out with a neckline at $662. Hence, the underlying sentiments relating to the Binance token are super bullish.&nbsp;
Technical indicators:
RSI Indicator: The daily RSI line above the halfway line gives a positive uptick and bolsters a bullish narrative.
EMA: &nbsp;The 50D EMA provides constant support to the BNB price and teases an uptrend continuation.
<h2 class="wp-block-heading" id="h-will-bnb-price-cross-600">Will BNB Price Cross $600?</h2>
According to the trend-based Fibonacci level, the BNB price is facing bearish opposition at the 23.60% Fib level. Further, on the verge of a $600 psychological level, Binance stands at a crossroads. Upon breakout, the bull run in the altcoin could reach the 78.60% Fib level at $826 in the daily chart.&nbsp;
As per the weekly standards, the breakout run could scale to $945 in the coming weeks.&nbsp;

Will Binance (BNB) Witness 60% Price Surge To $900 Amid Market Pullback?

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