- 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.
Despite facing legal challenges, #Binance might emerge more resilient. Still, keep an eye on #BinanceCoin as $BNB forms a descending triangle on the weekly chart.Watch for a close above $260 to confirm a bullish #BNB breakout. Until then, it might be wise to hold steady! pic.twitter.com/Wal9CDRfiP
— Ali (@ali_charts) December 10, 2023
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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