LIVE
๐ฑ๐๐BNB Coin may rise to $650 next week Data confirms this!
The BNB has risen by more than 8% in the last seven days.
Most metrics and indicators have shown a bullish trend on the coin.
BNB displayed a promising bull rally last week, as its price increased by over 8%. While this was happening, a bullish pattern appeared on the price chart of the coin. If the BNB successfully breaks above the pattern, its price may fluctuate northward.
Bullish formation on the BNB chart
After a comfortable weekly rally, the coin's volatility fell as it moved only marginally on the last day. According to Coinmarketcap, the price of bnb has fallen by 2% in the last 24 hours.
However, the volatility of the bnb may be restored soon.
Captain Faibik, a popular crypto analyst, recently posted a tweet mentioning the formation of a bullish symmetrical triangle formation on the coin's price chart. A successful break on the model can also allow the price of bnb to rise by more than 40%.
Investors also seemed quite confident about the #BNB and expected its value to rise. This was evident from the fact that the weighted sentiment of the coin rose on April 25.
Reflecting its popularity in the crypto space, its social volume also remained high.
Is a bull run inevitable?
In addition, the October funding rate has fallen sharply. In general, prices tend to move in a direction other than the financing rate, which points to a bull rally in the coming days.
The technical indicators also seemed quite optimistic. For example, the Chaikin Money Flow (CMF) was standing well above the neutral mark of 0. It had a value of 0.15 at press time.
According to our analysis, it is very important for the bnb to rise above $ 620, as the liquidation will increase sharply at this level. An increase in liquidation usually results in a price correction. A successful break above this level can allow the price of the coin to rise above $ 650.
