Binance Coin stuck in range!

BNBUSDT

The recent price action of BNB has formed a symmetrical triangle pattern, reflecting a state of indecision between bulls and bears.

Typically, a symmetrical triangle acts as a continuation pattern, but it can also potentially signal a reversal. If buyers manage to propel and sustain the price above the triangle, it would suggest a possible trend reversal. In such a scenario, the BNB/USDT pair could rise towards $265 and potentially reach the pattern target at $293.

However, if the price turns downward and falls below the 20-day EMA ($242), it would indicate that the pair might consolidate further within the triangle. To gain control, bears would need to push the price below the support line of the triangle.