- Binance Coin (BNB) remains bearish over the short and the medium-term horizon
- The four-hour time shows that a bullish breakout has occurred from an ascending triangle pattern
- A bearish death-cross is still underway on the daily time frame
Binance Coin is on the rise, after the cryptocurrency staged a powerful double-digit rally alongside the recent recovery in the broader cryptocurrency market.
The BNB / USD pair is now trading at its highest level since September 24th this year, with the cryptocurrency adding around twenty percent to its value since the October monthly price open.
The recent bounce in Binance Coin has done little to recover the summer losses the cryptocurrency incurred, after the eighth-largest cryptocurrency by market capitalization eroded around sixty five percent of its value from June 27th until September 26th.
The cryptocurrency is also still bearish over the short and medium term and remains in a precarious technical position while trading under the $20.00 level, due to the death-cross in play across the daily time frame.
The four-hour time frame shows that an ascending triangle pattern has been ignited, with the bullish pattern already reaching its…
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Author: The Analyst Team