bullish

Coin

<p>Crypto analyst ZAYK Charts has identified a bullish pattern for <a href="https://captainaltcoin.com/binance-coin-bnb-could-see-double-digit-rally-soon-one-resistance-left/" target="_blank">Binance Coin (BNB)</a>, projecting a potential 48% price increase. The analysis, shared on X (formerly Twitter), highlights a technical breakout that could propel BNB towards the $890 mark.&nbsp;</p> 
<p>Besides, this forecast comes as the crypto market shows signs of renewed vigor, with BNB trading below $602, price at the time of the analysis, <a href="https://coinmarketcap.com/currencies/bnb/" target="_blank">at $592.36</a>. ZAYK Charts’ analysis centers on a bull flag pattern visible on BNB’s 2-day chart. This pattern, characterized by a strong upward move followed by a period of consolidation.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BNB</a> Bull Flag Break out in 2D Timeframe<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Expecting Massive Bullish Wave<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/BNB?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#BNB</a> <a href="https://twitter.com/hashtag/BNBUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#BNBUSDT</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Crypto</a> <a href="https://t.co/fTskBZjLlC" target="_blank" rel="nofollow">pic.twitter.com/fTskBZjLlC</a></p>— ZAYK Charts (@ZAYKCharts) <a href="https://twitter.com/ZAYKCharts/status/1846791030219460642?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 17, 2024</a>
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<p>The flag’s break from the upper barrier points to BNB perhaps preparing for another step higher in its price path. Two key elements define the bull flag structure: the flagpole, which stands for the first strong price rise, and the flag itself, shown by a downward-sloping channel.&nbsp;</p> 
<p>ZAYK Charts notes that <a href="https://blockonomi.com/bnb-surpasses-600-analysis-points-to-potential-800-target/" target="_blank" rel="nofollow">BNB’s recent price action</a> has breached the upper limit of this channel, confirming the breakout that often precedes price movements.</p> 
<h2 class="wp-block-heading" id="strong-technical-target-and-resistance-levels-strong"><strong>Technical Target and Resistance Levels</strong></h2> 
<p>Based on the measured move technique, a common method for projecting price targets from chart patterns, ZAYK Charts estimates a potential upside of 48% for BNB. This projection places the target price at approximately $890, a considerable jump from current levels.</p> 
<p>However, the path to this target is not without obstacles. BNB faces notable resistance levels that could temporarily halt its ascent. Key areas of resistance are expected around $630 and $700.&nbsp;</p> 
<p>These price points may act as testing grounds for <a href="https://www.coinspeaker.com/binance-coin-bnb-bullish-momentum-booming-crypto-sentiment/" target="_blank" rel="nofollow">BNB’s bullish momentum</a>, potentially leading to brief consolidations or pullbacks before further advances.</p>  
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/dogecoin-doge-and-bonk-memecoin-prices-are-pumping-heres-why/" target="_blank"><strong><em>Dogecoin (DOGE) and BONK Memecoin Prices Are Pumping: Here’s Why</em></strong></a></p> 
<h2 class="wp-block-heading" id="strong-market-implications-and-trading-considerations-strong"><strong>Market Implications and Trading Considerations</strong></h2> 
<p>The breakout from the bull flag pattern signals a potentially strong buying interest in BNB. Traders often view such technical developments as opportunities to enter or add to positions.&nbsp;</p> 
<p>While the technical outlook appears promising, it’s crucial to note that market conditions can change rapidly. A reversal below the flag’s support line could invalidate the bullish scenario.</p> 
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noreferrer noopener nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noreferrer noopener">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noreferrer noopener">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noreferrer noopener nofollow">FREE Telegram group.</a></strong></em></p> 
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<p>The post <a href="https://captainaltcoin.com/expert-charts-potential-48-binance-coinbnb-price-rally-heres-the-outlook/">Expert Charts Potential 48% Binance Coin (BNB) Price Rally: Here’s the Outlook</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Expert Charts Potential 48% Binance Coin (BNB) Price Rally: Here’s the Outlook

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