Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Price Boom<\/a><\/div>\nBinance Coin’s recent price action, characterized by a tight consolidation range, has unveiled an inverted head and shoulders pattern. This technical indication, if validated, could usher in a trend reversal and a potential price surge. <\/span><\/p>\nAdditionally, Binance’s strategic expansion into Japan through its subsidiary launch has introduced BNB to a new market, underlining its prominence and potential for further growth.\u00a0<\/span><\/p>\nAs the cryptocurrency market evolves, these developments may play a pivotal role in shaping BNB’s trajectory in the coming weeks.<\/span><\/p>\n(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\nFeatured image from Securities.io<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Binance Coin (BNB) has recently exhibited a period of price consolidation, displaying a lateral movement within the range of $245 to $234 over the past two weeks. This intriguing price action has given rise to a bullish reversal pattern known as the inverted head and shoulders, hinting at potential future price movements. The inverted head and shoulders pattern is a popular technical analysis formation, often indicating a potential trend reversal. It consists of three main components: a low, followed by a lower low forming the “head,” and then another low resembling a “shoulder.”\u00a0 Related Reading: Curve DAO (CRV) Price Recovery Post-Exploit: What Would Be A Realistic Scenario? The crucial point of this pattern lies at the “neckline,” which is a horizontal resistance level connecting the highs of the head and the two shoulders. A breakout above this neckline is typically a bullish signal, indicating a potential price upswing. Source: Coingecko BNB’s Potential For Recovery And Growth The pattern signifies a shift from a downtrend to an uptrend, suggesting that selling pressure may be waning and buying interest could be building up.\u00a0 Currently priced at $244 according to CoinGecko, BNB has experienced a minute 0.4% increase in the past 24 hours, and a 3.8% increase over the last seven days.\u00a0 On the daily chart, BNB is currently trading in the $26K range at TradingView.com Analyzing\u00a0the price action\u00a0reveals the emergence of the aforementioned inverted head and shoulders pattern. If the buyers can successfully uphold this newly formed support level, it could pave the way for a potential 10% recovery, potentially propelling the price toward the upper trendline of the established channel pattern. Binance Expands Influence With Japan Launch In a significant move, Binance, the world’s largest cryptocurrency exchange, has\u00a0launched its Japan subsidiary \u2013 Binance Japan K.K. The inauguration of this platform introduces BNB to the Japanese market for the first time, contributing to a slight weekly price uptick. This expansion into Japan signifies Binance’s commitment to broader global outreach and adoption of its native token, BNB. Related Reading: Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Price Boom Binance Coin’s recent price action, characterized by a tight consolidation range, has unveiled an inverted head and shoulders pattern. This technical indication, if validated, could usher in a trend reversal and a potential price surge. Additionally, Binance’s strategic expansion into Japan through its subsidiary launch has introduced BNB to a new market, underlining its prominence and potential for further growth.\u00a0 As the cryptocurrency market evolves, these developments may play a pivotal role in shaping BNB’s trajectory in the coming weeks. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Securities.io<\/p>\n","protected":false},"author":557,"featured_media":545486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3],"tags":[142,13291,86483,1144,8686,4735],"class_list":["post-545469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","tag-altcoins","tag-binance-coin","tag-bnb-price","tag-btcusd","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n
Binance Coin Price Gears Up for Over 10% Upswing - Here's How<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n