BNB Rebounds to $1,270 with Potential Target of $2,400
BNB has rebounded to near $1,300 after a recent dip and may potentially rise further. An analyst suggests it could reach $2,400.
Key Developments
- BNB experienced a price crash but has recovered and even surpassed pre-crash levels, setting a new all-time high above $1,370.
- The coin's recovery is attributed to breaking out of a Parallel Channel pattern, which indicates strong bullish momentum.
- The breakout from this channel suggests BNB might climb higher, potentially targeting $2,400, reflecting an 89% increase from its current level.
- The Parallel Channel is characterized by price consolidation between two trendlines. Breaking the upper line signals a potential upward trend continuation.
Current Market Status
- Currently, BNB is trading around $1,270, marking a 4% increase over the past week.
