On 1-Day Chart, BNB Forms Bullish Flag Pattern What Next?

Binance Coin (BNB) is consolidating after a climb to an all-time high. In the 1-day period, BNB's price formed a bullish triangle flag above the 100-day SMA during consolidation.

Binance coin is trading between the $647 resistance level and the $498 support level, building momentum for a bullish breakout. Its total capitalization is $89,412,113,586, up 1.70% in 24 hours, and its trading volume is $1,535,069,940, down 37%. BNB was $604 above the 100-day simple moving average, up 0.65% in 24 hours.

Technically, the digital asset's 1-day price chart shows it above the 100-day moving average. BNB may break above the top base of the bullish triangle to go higher.

BNB

Relative Strength Index (RSI) signal line has moved above and below zero, but is now above zero. This RSI configuration shows the price may break above the bullish triangle's top base.

The Williams alligator indication predicts the price may rise since the alligator teeth and mouth are above the lip and the price is above the indicator. This configuration suggests BNB's price may rise above the bullish triangle.

Finally, if BNB breaks above the bullish triangle, it may shatter the $647 high and set a new all-time high.

If the crypto asset fails to break above the bullish triangle, it may fall below it and reach $498. It may correct further to test $384 if it breaks this level.

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