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Binance Coin (BNB) Technical Analysis: Bearish Rising Wedge Reversal on 30m Chart

Published 05/14/2019, 06:27 AM
Updated 05/14/2019, 07:41 AM
 Binance Coin (BNB) Technical Analysis: Bearish Rising Wedge Reversal on 30m Chart

Binance Coin (BNB) has been a strong performer during the recent bull market frenzy that’s taken hold of the crypto space.

In the last 48hrs, the #7 cryptocurrency has risen nearly 20% to a height of $24.68 before correcting, with trading volume spiking by more than $75 Million.

Today however, the asset appears to be losing momentum after failing to break new ground above the $25 level. Right now the asset is up around 4.09% against the US dollar while a number of other alts in the top 10 are reporting double digit gains.

The price action on the 30min chart is also beginning to show worrying signs of a bearish reversal, as candles continue to consolidate inside a rising wedge pattern.

Binance Coin (BNB) Price Analysis


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This article appeared first on Cryptovest

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