Binance Coin Price Prediction: Double Bottom Reversal Targets $667 Next
The post Binance Coin Price Prediction: Double Bottom Reversal Targets $667 Next appeared on BitcoinEthereumNews.com. Binance Coin (BNB) is exhibiting a potential shift in momentum as a classic double bottom pattern forms on short-term charts. The price action, coupled with volume dynamics and technical setups, hints at a possible reversal from recent lows. Market participants are closely observing whether BNB can sustain its push above the $654 neckline, a move that could signal the start of a broader recovery. The asset’s performance over the next few sessions may determine if bulls have enough strength to challenge the $667 resistance zone. Bullish Reversal Pattern Strengthens Near Key Support Zone A recent technical formation observed on the BNB/USDT chart has gained traction following a strong rebound from the $652 support level. As identified by a prominent trader Rai, a double bottom pattern has emerged with two distinct lows followed by a break above the neckline at approximately $654. This W-shaped structure typically suggests a potential trend reversal when backed by volume and disciplined stop-loss placement. The ongoing price action has respected the pattern, with bulls attempting to confirm the breakout zone near $654.27. Source: X Traders have marked the immediate upside target at $656.34, positioning stop-losses slightly below the recent low at $653.12. The risk-to-reward profile remains tight, offering a controlled setup for short-term participants. The price has already tested the neckline area post-breakout, which could serve as a retest confirmation if momentum builds. Sustained interest from breakout traders may push the price toward the projected target, especially if the setup remains intact during the next intraday sessions. Short-Term Volatility Hints at Market Caution Over the past 24 hours, Binance Coin has traded within a relatively narrow band, closing the session at $654.54 with a minor decline of 1.34%. Despite reaching highs near $656.50, the asset experienced multiple short dips below $653 before regaining ground. The session’s…
The post Binance Coin Price Prediction: Double Bottom Reversal Targets $667 Next appeared on BitcoinEthereumNews.com.
Binance Coin (BNB) is exhibiting a potential shift in momentum as a classic double bottom pattern forms on short-term charts. The price action, coupled with volume dynamics and technical setups, hints at a possible reversal from recent lows. Market participants are closely observing whether BNB can sustain its push above the $654 neckline, a move that could signal the start of a broader recovery. The asset’s performance over the next few sessions may determine if bulls have enough strength to challenge the $667 resistance zone. Bullish Reversal Pattern Strengthens Near Key Support Zone A recent technical formation observed on the BNB/USDT chart has gained traction following a strong rebound from the $652 support level. As identified by a prominent trader Rai, a double bottom pattern has emerged with two distinct lows followed by a break above the neckline at approximately $654. This W-shaped structure typically suggests a potential trend reversal when backed by volume and disciplined stop-loss placement. The ongoing price action has respected the pattern, with bulls attempting to confirm the breakout zone near $654.27. Source: X Traders have marked the immediate upside target at $656.34, positioning stop-losses slightly below the recent low at $653.12. The risk-to-reward profile remains tight, offering a controlled setup for short-term participants. The price has already tested the neckline area post-breakout, which could serve as a retest confirmation if momentum builds. Sustained interest from breakout traders may push the price toward the projected target, especially if the setup remains intact during the next intraday sessions. Short-Term Volatility Hints at Market Caution Over the past 24 hours, Binance Coin has traded within a relatively narrow band, closing the session at $654.54 with a minor decline of 1.34%. Despite reaching highs near $656.50, the asset experienced multiple short dips below $653 before regaining ground. The session’s…
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