📈 Technical Analysis of Binance Coin (BNB)
Summary: Binance Coin (BNB) shows technical signals and on-chain metrics suggesting significant bullish potential in the short term.
🔍 Key Technical Indicators
Inverse Head and Shoulders Pattern: BNB is forming an inverse head and shoulders pattern, a technical figure that often precedes bullish movements.
Critical Resistance: The $261 area acts as the neckline of the pattern. A sustained close above this level could confirm the bullish breakout, with a projected target towards $310.
Relevant Supports: In case of pullbacks, the support levels are at $220 and $212, which have shown to be previous accumulation zones.