BNB price has formed an extremely rare pattern that could push its price to $1,200 in the coming months. Binance Coin was trading at $616 on Tuesday, November 19, up by 240% from the year-to-date low, bringing its market cap to over $88 billion.
BNB Price Analysis As A Cup And Handle Pattern Forms
Binance Coin, which is the native token for the BNB Smart Chain, has formed a cup and handle pattern on the weekly chart.
This pattern is characterized by a rounded bottom and some consolidation or a pullback at the upper side. It started to form in November 2021 when the coin rallied to a high of $665 and then pulled back to $200 in 2022 and 2023.
BNB price then rebounded and retested the 2021 high earlier this year, completing the formation of the cup. It has been forming the handle section since then.
In August, it formed a doji pattern, which partially explains why the coin has rebounded to $665. Therefore, a clean break above the upper side of the cup could point to more gains, poten
We współpracy z: https://coingape.com/markets/this-rare-pattern-could-propel-bnb-price-to-1200/
