Binance Coin Price Prediction: Triangle Points to Upside Move

The price action on the BNB/USD charts is defying all Binance Coin price predictions, as the token continues to stay resilient despite all assaults against the exchange from regulators and the banking system.

Binance Coin gained 2.15% on Tuesday, even after UK bank Barclays says it was blocking all further deposits to the exchange from its customers’ bank accounts. The bank claimed that it was taking action to safeguard its customers’ funds. At least two other banks in the UK have taken similar action after the Financial Conduct Authority (FCA) had flagged the exchange as an illegal operator since it did not have the FCA license. 

Coincidentally, Barclays cited this action in messages sent to its customers.

Binance Coin Price Prediction Outlook

The BNB/USD daily chart shows the price in an ascending triangle pattern, with the candle testing the upper border of this triangle at the 314.94 resistance.

A break of this resistance confirms the triangle as a bottoming pattern, with a measured move that takes the price to the 357.04 resistance barrier. Price extension beyond this point will find barriers at 379.84 and 400.01, in that order.

On the other hand, rejection and pullback from 314.94 threaten the triangle’s ascending border. A breakdown at this point allows the bears to aim for 278.12. Additional pivots to the south lie at 249.72 and the price wall at 210.91/222.99.

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BNB/USD: Daily Chart

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