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This is very bullish for the BNB price because a double bottom pattern points to a coming rally in price.
The potential for this bullish scenario to play out only increases when you combine that bullish pattern with strong daily support. This provides us a key zone to keep an eye on for the coming bounce in the BNB price.
In this Altcoin analysis, we will be talking about these key levels and what we will be looking out for in the coming days.
Key Levels To Watch!
The most important level to watch will be the $185 key support region on the daily timeframe. We want to see the BNB price bounce and rally from this support region in the coming days.
This $185 support is very important for the BNB bulls to hold not only because it is daily support, but also because a break below it could spell doom for BNB in the coming days.
Bullish Targets!
The first bullish target we will be watching for would be the $433 previous highs on the 4-hour timeframe. We have seen the BNB price reject off these highs before and might do so again if the price gets to this region.
However, a breakthrough this $433 resistance could see BNB pushing back up to the ATHs soon!.
This is a 171% potential move in BNB and it might occur soon. We just need a few positive fundamentals to come out about the Binance community for this bullish rally to begin.
Final Verdict!
We are bullish on BNB, provided the Altcoin price continues to trade above the $185 key support on the Daily timeframe. If this level holds, we can expect to see the BNB price rally back up to the ATHs soon!
This bullish prediction is further confirmed by the bullish double bottom pattern forming on the BNB chart.
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