Technical Analysis $BNB June 3, 2024

BNB (BNB) has been trading above the moving averages for the past few days, showing that the bulls are actively defending this level.

The bulls will try to push the price to the overhead resistance at $635. This is the key resistance to watch out for as a break and close above this could start the next leg of the uptrend to the pattern target of $775.

Contrary to this assumption, if the price turns down and breaks below the uptrend line, it will negate the ascending triangle pattern. That could accelerate selling and push the BNB/USDT pair down to $536.