Last month, BNB found support above $290 and experienced a surge, breaking through a resistance line earlier this month.
The recent breakthrough over $367 represents a shift from the preceding range market.
Successful retest of the $350 breakthrough suggests significant upward momentum.
Bullish mood is clear as the BNB price shows a significant V-shaped turnaround.
A rounding bottom reversal pattern was found, with bulls breaching the neckline at $350.
A 6% overnight rally produces a bullish engulfing candle, which might pave the way for a $400 breakthrough.
Binance's price trend is strongly positive, pushing the $400 psychological barrier.
BNB now trades around $380, with an intraday Doji candle indicating a momentary break before the uptrend begins.
Binance sets a new 52-week high, showing a largely optimistic mood in the crypto market.
As per CoinGabbar Prediction, Inability to exceed the $400 level could result in BNB retracing towards the $350 support, while surpassing this level may propel it towards $450.
KEY LEVELS :
RESISTANCE LEVEL : $388-$400
SUPPORT LEVEL : $370-$360
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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