BNB in ​​consolidation phase: Is the breakout now coming?

You have to wait 20seconds.

Generating Link ... Download New

 

In the price analysis, Bastian (Bitbull) takes a look at BNB and explains which price levels are important now.

BNB remains within an ascending triangle structure on the daily chart and is currently trading just below the yellow resistance line at $603. The VPVR (Volume Profile Visible Range), which shows volume at certain price levels, indicates that BNB has built significant volume clusters within this range. These could act as strong support should BTC correct in the short term.

There is a possibility that BNB will test the 50 daily EMA or the support at the green line at $581 again before breaking out of the triangle. The Ascending Triangle is considered bullish and signals a potential rise. If the breakout succeeds, the first resistance would be the orange line at $632. If it continues to rise, the all-time high (ATH) at the red line at $711 could be targeted.

A break of the orange line could trigger a quick move as there has been little volume trading at the higher price levels so far, making the price vulnerable. The heatmap (top right of the chart) also shows that there is a lot of liquidity in the area of ​​the orange line that could be picked up by the price.

BNB daily chart + heatmap (Source: TradingView )

4-hour chart: Consolidation and possible pullbacks before next move

On the 4-hour chart, BNB is showing signs that the price is struggling to continue rising. This could be an opportunity to consolidate in the short term and retest the EMAs, either the 50 or the 200 EMA. In the past, these EMAs have provided reliable support.

The RSI (Relative Strength Index) is at 67 points, which still leaves room for further upside. However, the current trend suggests that the RSI is trending towards the signal line and may reach the neutral zone at 50 points.

Learn crypto trading in the video course

In the BTC-ECHO Academy, Bastian (Bitbull) explains what is important in crypto trading and which strategies he himself uses to be successful.

The MACD (Moving Average Convergence Divergence) shows that the positive momentum in the histogram is slowly decreasing, indicating a potential flattening.

As is often the case in market events, the momentum depends heavily on Bitcoin: if BTC moves higher, some altcoins may follow while others lag behind. However, when BTC corrects, the entire market is often affected.

The picture of the liquidation levels (top right of the chart) signals that BNB could still have potential for one last push upwards. However, as soon as the liquidity is collected, the price should cool down and a recovery phase should begin.

BNB 4-hour chart with indicators and liquidation levels (Source: TradingView)

About the author

Bastian Keller (Bitbull) has been operating independently in the Forex market since 2015 and has been a full-time trader in the crypto market since 2018. He actively shares this expertise on various social media platforms, especially on his YouTube channel “ Bitbull Trading ”, with more than 60,000 subscribers. Bitbull has also   launched the TradeMania platform, which is intended to make it easier for beginners to get started in crypto trading.