Resistance

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<p>Crypto trader Ali has <a href="https://twitter.com/ali_charts/status/1734585587401625914" target="_blank" rel="noopener noreferrer nofollow">identified</a> a compelling technical pattern in Binance Coin (BNB) that could shape the future trajectory of the popular cryptocurrency.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="801" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-1024x801.png" alt="" class="wp-image-397401" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-1024x801.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-300x235.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-767x600.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-1536x1202.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-2048x1602.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-192x150.png 192w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-100x78.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-447x350.png 447w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340-788x616.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-340.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>BNB is potentially forming a head-and-shoulders pattern, a significant chart pattern indicating a potential trend reversal. According to Ali, a decisive close above the neckline at $261 might act as a trigger for a bullish breakout.</p>
<p>The head-and-shoulders pattern is considered a powerful indicator, often signaling a shift in market sentiment. For BNB, this pattern could be a harbinger of a substantial upward movement.</p>
<p>To validate this bullish scenario, the cryptocurrency needs to secure a sustained close above the critical level of $261. If successful, this breakout has the potential to propel Binance Coin toward the $310 mark.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/polygon-matic-whales-make-mystery-moves-amid-price-plunge/" target="_blank" rel="noopener noreferrer nofollow">Polygon (MATIC) Whales Make Mystery Moves Amid Price Plunge</a></li>
 <li><a href="https://captainaltcoin.com/chainlink-link-signals-breakout-with-eyes-set-on-this-key-resistance/" target="_blank" rel="noopener noreferrer nofollow">Chainlink (LINK) Signals Breakout with Eyes Set on This Key Resistance</a></li>
 <li><a href="https://captainaltcoin.com/battle-for-attention-new-cryptocurrencys-presale-versus-dogecoins-anticipated-surge/" target="_blank" rel="noopener noreferrer nofollow">Battle for Attention: New Cryptocurrency’s Presale Versus Dogecoin’s Anticipated Surge</a></li>
</ul>
<p>As traders and investors keep a close eye on the evolving patterns, the $261 level becomes a key focal point. The dynamics surrounding BNB in the coming days could offer valuable insights into broader market sentiment and the potential for a significant price surge.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/binance-coin-forming-a-head-and-shoulders-pattern-analyst-says-a-close-above-the-neckline-could-propel-bnb-to-this-level/" rel="noopener noreferrer nofollow">Binance Coin Forming a Head-And-Shoulders Pattern, Analyst Says a Close Above The Neckline Could Propel BNB To This Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Binance Coin Forming a Head-And-Shoulders Pattern, Analyst Says a Close Above The Neckline Could Propel BNB To This Level

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