BNB hovers above $730 as double bottom and rising wedge shape next move

Binance Coin (BNB), the native cryptocurrency of Binance, currently stands at a pivotal price level as technical analysts assess signals for a potential recovery or further decline. A possible double bottom near the $730 region may offer support for a rebound toward $800, but traders remain cautious due to recent breakdowns in key technical structures. BNB’s price has moved within the $740–$751 range after facing repeated rejection in the $800–$810 resistance zone. A recent drop below both a four-hour rising channel and the daily chart’s 0.236 Fibonacci retracement at $746 has shifted short-term momentum in favor of sellers.

Source: CoinTurk News