Binance Coin (BNB) has shown signs of revitalized upside momentum after a difficult bear market. However, the native exchange token now faces a critical test at resistance levels following a price surge in recent weeks.
According to analysis from the World of Charts, BNB spiked from its recent swing lows up to $310 before pulling back. World of Charts notes BNB is now consolidating constructively to digest overbought conditions:
“Bnb Trend Is Up & Consolidating In Bullish Flag Incase Of Breakout Expecting Massive Bullish Rally Towards 400$”
This aligns with analysis from altFINS highlighting an emerging bull flag continuation pattern. The bull flag comes after a significant BNB advance off its December lows, with another upside burst expected upon a successful breakout.
The first major target for BNB sits around the psychological $400 level, should bulls maintain control. For now, former resistance around $300 needs to hold up as support. Though momentum gauges show early signs of resetting to fuel the next leg higher.
Source: altFINS – Start using it today
Still, analysts note that crypto markets see considerable two-sided risks in the current environment. Extended advances remain prone to volatility amid questions about trend sustainability.
But BNB’s relatively constructive technical posture bodes well for measured upside continuation if pivotal supports are maintained. The coming sessions should determine whether BNB’s bull flag ushers in a decisive trend change or if more range awaits.
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