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🚀🚀🚀The price of 💰💰💰Binance Coin is expected to undergo another bullish breakthrough
Exchange Sidelined consumers may have another chance to collect coins if their price continues to rise.
Investors should use caution while purchasing BNB declines because of the unpredictable market outlook.
If the $596.5 support level is broken, the bullish argument would be rendered useless.
A temporary pullback in the price of Binance Coin (BNB) is anticipated to occur when supply runs out. If market conditions improve, buying BNB on dips during the impending drop will be a smart move.
After a 21% surge, the price of Binance Coin was expected to retest the theoretically predicted objective of $775 after breaking out of the ascending triangle on June 4. After a 13% surge that resulted in the construction of a local peak at $721.8, however, the impulsive advance ceased. A 7% pullback back to $635.2
Investors may decide for themselves how to respond to the aforementioned level based on the Binance Coin price. The purchasers' determination to protect this crucial barrier will be evident if the price bounces again over $635.2. This would set the stage for a bullish run by BNB, with the theoretically predicted aim of $775.5 as the end goal.
With BNB re-entering the $635.2 support area, it is imperative that the Relative Strength Index remains above its 50-day moving average. This new information would add fuel to the fire of optimism and propel Binance Coin closer to its $775.5 target.
Binance Coin price is most likely to remain below the $635.2 support level if the market picture keeps getting worse. It would be rendered useless if you reentered the ascending triangle configuration.
But the bullish market structure would be rendered useless if the price of Binance Coin were to turn $596 into a level of resistance, resulting in a lower bottom. If this trend continues, BNB may fall as much as 6% and test the $562.6 level of support.
