On the daily chart of BNB, we were expecting a clear ascending triangle pattern to breakout, with a target of $720. However, the market played a trick on us, and this seemingly strong breakout turned out to be a false breakout, with prices falling back into the original range.
In my opinion, the next market trend will be critical. I look forward to seeing prices challenge the key position of $635 again and hold on. This will be another test of the current market sentiment and a reaffirmation of the bulls' strength.
However, if the price fails to hold this position and even falls below the support trend line, we may face a more severe market situation. At that time, $500 will become a psychological barrier that we have to face.
