Is BNB Coin Poised to Reach a New All-Time High Over the Weekend?

Introduction

BNB Coin’s price is on the verge of breaking records after struggling to find momentum in recent times.

Breakout Anticipation

Despite multiple attempts, BNB is poised for a breakout, pending support from investors.

Bullish Investor Sentiment

Investors in BNB are showing bullish sentiment as the coin trades at $621 within an ascending triangle pattern.

• The uptick in the Chaikin Oscillator indicates increasing buying pressure.
• BNB’s Sharpe Ratio, currently at 2.71, suggests good risk-adjusted returns.

Technical Analysis

BNB Coin’s price action is constrained within an ascending triangle pattern, indicating potential for an upward breakout.

• The target price following a breakout is $764, a 21% rally from current levels.
• If the price fails to breach $656 and falls below the lower trend line, support levels at $575 and $550 may come into play.