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Analyst Predicts Potential Upside For Binance Coin (BNB)

Published 12/11/2023, 10:26 PM
Updated 12/11/2023, 10:45 PM
Analyst Predicts Potential Upside For Binance Coin (BNB)
BNB/BRL
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  • An analyst predicted that BNB’s price could break out towards the upside despite Binance’s legal struggles.
  • At press time, BNB was worth $232.59 after its price dropped by over 3% in the past day.
  • Should BNB close today’s trading session above $230, it may attempt to challenge the $240 resistance level again.

The cryptocurrency trader and analyst Ali revealed in an X post earlier today that Binance Coin (BNB) could still break out towards the upside even though Binance is facing a series of legal challenges. Furthermore, the analyst noted that a bearish descending triangle has formed on BNB’s weekly chart.

Nevertheless, Ali shared that BNB closing above $260 could be a confirmation of the altcoin entering into a bullish move. Until then, he thinks it may be best to “hold steady.”

Over the past 24 hours, BNB sa…

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